AMBUJACEM
AMBUJACEM SHORT (INTRADAY NOV 18)Hello TradingView community and my followers, please if you like the ideas, don't forget to support them with likes and comments, thank you very much and here we go.
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AMBUJACEM
It has broken the neck of triple top on bigger timeframe and
in 15 min it has also broken "Ascending Triangle".
So now wait for "ABC correction" in 5 min candle and on "Breakout of trendline" we could see downside movement.
Thank you !
Ambuja Cement This stock has completed 4th wave on daily time frame, and now possibly we are in 5th wave, once resistance trendline is broken then it would be a good trigger point to go long, stock had reached that trendline and currently trying to break, once it's broken, then bulls can take charge, also trend indicators and wave counts are suggesting to go long.
Overall wave structure on daily time frame
Macd in daily positive crossover and Uptick and also above zero line
Macd in weekly positive crossover and Uptick and also above zero line
RSI trendline breakout on daily time frame, uptick and also above 60
Price pushing upper bollinger band to open more upside
RK's Mass psychological Cloud buy activated
Dmi adx also positive on daily time frame
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Consult with your Financial advisor before trading or investing
AMBUJA CEMENTS LTD Analysis 04/03/2021as we can see the price is renege Bounding in an ascending Paralleled Chanel where as the Fibonacci Projection shows some confluences with the Top Red Trendline which is the long term trend line and can be used as a resistance area.
we can be optimistic about 1 TP , which is 161.8% i.e Extension Level of the same Fibonacci projection and if triggered and show some candle pattern and the resistance turned to Support, then we can target the 261.8% of the same which is 3TP
#SUNDARMHLD #SUNDARMFIN #FINTECH #FINANCE #TECH #Iot #ML #AI #ITSundaram Finance Holdings Ltd.
NSE:SUNDARMHLD
NSE: SUNDARMHLD
CMP: 83.65
Target 1: 96+
Target 2: 110+
Time frame: <6months
Factors:
BULLISH WEDGE BREAKOUT
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
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H&S pattern formation Ambuja Cement.The chart is itself explanatory.
Ambuja cement testing its dynamic support as well as it is near to give head and shoulder breakout.
Keep a close eye on Ambuja cement if the breakout happens and it stays below 387 then we can see more weakness.
and price can drag up to 347-40
Happy Trading.
Cement Stocks -ACC, ULTRACEMCO, AMBUJACEM -Similar opportunitiesThere seems to be something cooking up in all major cement stocks. Similar opportunities can also be found in related stocks.
One should keep a close watch and can capture short term opportunities.
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