May 05, 2016
Ambuja Cement (NSE Cash)
BUY
` 205
` 213- 211
` 227
5-10 sessions
211
208
219
226
Bullish
Daily Chart
Source: Falcon (Time - IST 09:30)
The stock has recently been forming higher tops and higher bottoms and is thus in a short term
uptrend. The volumes during the upmove were higher and are low during the corrective move.
Prices are currently trading near the 89EMA on daily and weekly charts which coincides with the 50%
retracement level of the previous upmove.
The ‘RSI’ oscillator is also trading near the support of 40 and hence we are expecting an upmove from
current levels.
Considering above technical evidences, we advise traders to buy this stock from current level
to a decline up to ` 211 for a target of ` 227 in coming 5 to 10 trading sessions. The stop loss
for this trade set up can be kept at ` 205.
May 05, 2016
Ambuja Cement (NSE Cash)
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Source: Angel Research
Research Team Tel: 022 - 40003600 (Extn.6552)
E-mail: [email protected]
Website: www.angelbroking.com
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