AMBUJA CEMENT case study
Ambuja cement have give a phenomenon rally from level of 150 to now around 600 levels, almost 4 times in last 2 years,
Counter is now trading around 592 levels which is life high levels for the counter,
Bearish equivalent harmonic ABCD pattern formation with maturity level around 580-611 levels,
now any upward journey in counter should be used to exit your long positions , as harmonic study suggest that counter might face resistance around levels of 590-611 levels, any weekly closing below 580 levels would confirm the trend reversal in counter,
RSI have bearish divergence on weekly time frame with respect to price.
Fresh investment only suggested above 630 levels on weekly closing basis or wait for a dip till levels of 485-444.
Time to be cautious in your investments in this counter.
Counter is now trading around 592 levels which is life high levels for the counter,
Bearish equivalent harmonic ABCD pattern formation with maturity level around 580-611 levels,
now any upward journey in counter should be used to exit your long positions , as harmonic study suggest that counter might face resistance around levels of 590-611 levels, any weekly closing below 580 levels would confirm the trend reversal in counter,
RSI have bearish divergence on weekly time frame with respect to price.
Fresh investment only suggested above 630 levels on weekly closing basis or wait for a dip till levels of 485-444.
Time to be cautious in your investments in this counter.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.