AMBUJA CEMENTS
- AMBUJA CEMENTS is trading below its golden ratio 161.8% fibonacci retracement this indicates as long as stock trades below it will favor by bears, but stock is stuck at its trend line support zone around 201.50. Close watch once stock closes below and stays below 201.50 then further weakness is expecting in AMBUJA CEMENTS.
- Intraday close watch once stock starts trading below 201.50, if stays below 201.50 with volumes and bears action is expecting in day trading.
- Suggested Reading - HERO MOTOCORP holding strong at current levels, buying expecting if closes above 2625.
- If stock closes below 201.50 and falls further then will next strong trend line support around 192.50, as shown in graph no2.
- Technical also indicates that earlier Ambuja was holding its 50 days moving average support , by looking at chart closely it indicates that from last 4 times stock took its 50 DMA support and bounced back, but this time stock is trading below its 50 DMA, as long Ambuja trades below it will favored by bears . close watch. Moreover stock major trend indicator MACD is now moving in negative zone this indicates stock to move down.
- Click here to see all the free trading reports (tips) published by us on AMBUJA CEMENTS.
- Tips on shares.
No comments:
Post a Comment