Ambuja Cements Ltd. is in cement and cement products industry. Ambuja Cements is also the largest cement producer in India. The AMBUJACEM stock seems to be bearish as it has dropped from the 160 levels and is heeding towards the 115 levels so for investors it is a solid opportunity to grab handsome profit. We will advice traders to enter the long position above the 135 level for short term target of 160 and 175. Also place your stop loss orders below the 120 level. Trader must trade it cautiously as the technical indicators are loosing the momentum, and some are showing bearish outlook.
The fundamentals of this company remains strong for the longer term, but in short term the stock can have some difficult time, as we see weekly charts are loosing upward momentum some weakness should be seen in short term. Learn technical analysis from our experts just call us at +91-9970777789.
About Bhaveek PatelBhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.
Bhaveek please have a look, I am looking on ambhuja cement for option trading for the target of 164 with stop loss as 147/145. Please suggest.
Sir, You need to wait for now, as I see some more consolidation on monthly chart before any upmove. Consolidation may eat up the premium on options so need to wait and watch.
Hi Bhaveek, Chart Pattern for Ambuja is showing spinning tops in weekly and daily time frame.
Post CCI orders they seems to be hit hard, i believe it is good for short sell, till the time they decide and file an case against CCI orders.
On Daily charts, other than MACD, Stachostics and RSI also showing sell mode.
Hi Anu, ambhuja cement is short sell and even all the large cement stocks are short sell in a short term post today’s correction. As of now it would be less risky to short sell ambhuja cement as CCI has charged it the most.