AMBALALSA | Long-Term Ascending Triangle🔎 AMBALALSA | Long-Term Ascending Triangle 📈
This 20-year chart is a gem for pattern hunters!
AMBALALSA is consolidating within a massive ascending triangle, with price approaching the apex.
🟢 Support trendline intact since 2013
⚫ Resistance around ₹70–75 tested multiple times
⚖️ Current zone (₹38–42) is the make-or-break area!
➡️ Breakout = multiyear move likely
⬅️ Breakdown = long-term trend may pause
🧾 Decent earnings bounce in Mar 2024 after shaky quarters.
Is this the calm before the storm? 🌩️
AMBALALSA trade ideas
Stock Update - Ambalal Sarabhai Buy Zone: ₹54.80–₹61.86 (Key support levels).
Sell Target: ₹90.93 (Fibonacci 0.618 resistance).
🔑 Key Insights:
A triangle breakout was observed, signaling potential upside momentum.
Strong volumes support the trend.
Bullish vs Bearish sentiment: 6:3.
💡 Strategy: Monitor for sustained breakout above ₹61.86 or dip buy near ₹56.07.
Stay tuned for updates! 🚀
@investofino
#Nifty #Stocks #investofino