Stock Picks

Ambuja Cement: Ready to Blast?

Ambuja Cement is one stock we have been monitoring closely and it seems to have been squeezed in a narrowing range. The break out doesn't seem far away. Have a look at the chart.

Ambuja Cement

A general look at the chart shows the narrowing range. Now, if the stock breaks 188-190 range and closes above it, the upmove can come till 220 and then eventually 245-250. Notice how the stock has shown good strength in the current NIFTY downtrend. Also, the close should come with a rise in volumes. As of now, this stock could fall once again till 175-172. We don't have any trade in it as of now. If the stock breaks below the 170 range then we could see 130 levels. Investors can take position if the close above 190 comes with high volumes (1.5x) of daily average. 

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