Ambuja Cement - Bullish for Short Term - Possible BTST Trade

4 set

Ambuja Cement has been experiencing a downtrend for some time; however, today’s trading session saw the formation of a bullish engulfing pattern while the stock closed just above its resistance level. This technical setup suggests a potential reversal and bullish momentum. Additionally, the RSI and MACD indicators are showing positive crossovers, indicating strength and a possible trend change. Given these signals, a Buy Today, Sell Tomorrow (BTST) trade at ₹625 is recommended. If the current momentum persists, a 1% profit target should be achievable within the first 30 minutes of tomorrow’s session.

Let me know if anyone feels differently.