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AMBUJA CEMENTS trading tips, Stock testing strong support.


AMBUJA CEMENTS




  • Ambuja cements has formed descending triangle formation, sharp move expecting once stock comes out from its formation. Down side will find support @ 205, 201.50. Weakness expecting once stock closes below it support zone.
  • Down side will find strong support @ 201.50, once closes below 201.50 then will find next support @ 192.
  • Technical chart also indicates stock major trend indicator has turned -ve this will favor bears and stock also trading below 50 DMA, if breaks support then weakness expecting.
  • Trading tips.

Sensex and Nifty open flat After a long holidays.

After a long holidays of five days, markets on Tuesday's trade on a (marginally) lower note with the Sensex falling 22.52 points to 26545.47 and the Nifty losing 11.25 points to 7934.30. About 595 shares have advanced, 309 shares declined, and 52 shares are unchanged.

ITC, HDFC Bank, HUL, Infosys, Dr Reddy's Labs and UltraTech Cement lost around 1%

While TCS, BHEL, Coal India, ICICI Bank, NTPC, HCL Technologies and BPCL gained around 1%.

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