AMBUJA CEMENT LTD : ISME JAAN HAI LONG TERM CALL

17 ก.พ. 2023

One of the India's leading and oldest cement manufacturing company and well known brand of Middle Class Segment of our Country AMBUJA CEMENT, had shown some sharp declined in Jan 2023. However buyers are back and the chart is in the Demand Zone. Let us analyze signals we are getting from chart.
1. The Stock has already faced rejection from both Distal line and Proximal Line of the Demand Zone as marked in circles in chart.
2. The chart is forming three back to back Hammers on Weekly time frame.
3. RSI is 33.30 ( under bought) on weekly timeframe.
4. The chart is in the formation of Three Bottom Pattern as shown as A, B and C on daily time frame.
5. Total Volume of trading in last three trading days is over 36 Millions.
6. Two days ago , Ambuja Cements Wins Bid For Uskalvagu Limestone Block , Orissa thus attracting Institutional Investors.

The entry level and the Targets are marked on the chart. This is a long term trade plan. Conservative Traders must enter the trade only after price action @ 353 and 399 .

Thank you for boosting my studies , and it is motivating me a lot to share more analysis with Trading Community. Best Wishes !!