Ambuja Cements Daily Chart


On the daily chart, Ambuja Cements stocks look slow & steady since Jul 2018 stock is following a steady range from 190 to 244 levels. In the whole year, 2019 stock didn't breach 190 levels and created a crucial support zone near that. 

However, the stock is trading above its 200 ema that is placed near around 207 that's a really good sign for the bull. On the daily chart, the stock has broken the falling channel range, as per technical analysis theory falling channel is a Bullish reversal signal for the stock.

Going forward if the stock will be able to trade above 207 levels then there is a high probability stock will test 244 levels in coming trading sessions. 

Therefore, have a bull eye on 244 levels if the stock will be able to break this level with heavy volume then this will go like a rocket towards 290 levels.


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