April 11, 2017
Ambuja Cements (NSE Cash)
244 - 246
14 - 21 sessions
Source: Falcon (Time: 10.35 IST)
Recently, we witnessed a decent up move in most of the ‘Cement’ counters amongst which ‘Ambuja Cements’ has been a
steady mover. Due to last week’s rally, the stock prices confirmed a breakout from the recent hurdle of 241 on a closing
basis. The volume activity too picked up substantially in the recent up move. In addition, the ‘RSI-Smoothened’ has
crossed the 70 mark in the northward direction, which we believe would provide the impetus for the extension of the
ongoing optimism. Considering the ‘Higher Top Higher Bottom’ formation on weekly chart, we expect the stock to give a
decent up move in the near term.
we advise traders to buy this stock at current levels to a decline up to
for a target of
263 over the next 14 to 21 sessions. The stop loss should be fixed at
022-3935 7600 Extn: 6552
April 11, 2017
Last 14 recommendations
CMP Target 1 Target 2 Stop-loss
1550 - 1560
306 - 309
714 - 718
97 - 98
1290 - 1300
Booked Profits at 152.50
2840 - 2855
725 - 732
140 - 141
88 - 89
Source: Angel Research
Research Team Tel: 022 - 4000 3600
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