September 01, 2017
Ambuja Cements (NSE Cash)
BUY
` 271
` 282-284
` 310
14 - 21 sessions
Weekly Chart
Source: Falcon (Time: 12.45 IST)
Justification:
On the weekly chart, the stock prices of Ambuja Cement is on verge of giving a bullish breakout from a horizontal line @280
which acted as resistance for last two years. The said breakout from the horizontal line has resulted in a pattern formation
known as 'Saucer'. In addition, Momentum oscillator i.e. RSI is in a positive zone in all major time frame. Stock prices have now
entered the unchartered territory and with all the above observation a strong upside cannot be ruled out. Thus, we recommend
buying this stock at current levels and on corrections up to `282 for a target of `310 over the next 14 - 21 sessions. The stop
loss should be fixed at `271.
Rajesh Bhosale
022-3935 7600 Extn: 6844
[email protected]
1
September 01, 2017
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Source: Angel Research
Research Team Tel: 022 - 4000 3600
Website: www.angelbroking.com
Email: [email protected]
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