Ambuja Cement - Forming Ascending Triangle
Updated
On Daily chart Ambuja Cement is forming Ascending Triangle.
Break and Sustain above 280 will take it to 300--310 and then to 330++ mark.
Support at 265--260.
Trading Recommendation
Bull Call Ration Spread
+1x 25FEB2021 270CE - ₹ 13.5
-4x 25FEB2021 300CE - ₹ 3.9
Max. Profit ₹ +94,800 at (₹ 300)
Undefined loss above 310.00 Subject to hedge after 310.00
Downside is capped with zero risk.
Break and Sustain above 280 will take it to 300--310 and then to 330++ mark.
Support at 265--260.
Trading Recommendation
Bull Call Ration Spread
+1x 25FEB2021 270CE - ₹ 13.5
-4x 25FEB2021 300CE - ₹ 3.9
Max. Profit ₹ +94,800 at (₹ 300)
Undefined loss above 310.00 Subject to hedge after 310.00
Downside is capped with zero risk.
Trade closed: target reached
Stock Closed at 281.00+1X270 CE bought at 13.5 and closed at 8.70
-4 X300 CE sold at 3.90 covered at 0.00
Made a profit of 30,000.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.