Ambuja Cement - a Long OpportunityHi Folks!
It took 68 days for Ambuja Cement to drop below 40% from its recent major high of 598. The company had issues with Truckers and being an Adani Group company affected its prices.
The current price is at a solid discount level and usually such a drop is rare. If one is willing to wait the same 68 days or more, then this stock is very likely to recover back and worst-come-worst it is very probable for the stock to increase at least 8.25% from current level which is equal to Bank FD interest rate for which one has to wait for 365 days. So if it reaches 402 it would have given FD rate return!
Based on your set-up, if you see other entry parameters being met, then you may want to consider taking a long position in this stock.
Always look before you leap!
PriceCatch
