AMCEM trade ideas
Ambuja Cement - Forming Ascending TriangleOn 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.
Ambuja Cem Resistance BOAscending triangle and resistance BO
Either go long now or wait for pull back, there have been two long green candles there could be some intra day correction
GENERAL DISCLAIMER - MY IDEAS ARE MY PERSONAL LEARNING IDEAS AND I AM NOT AN ADVISOR, DO NOT TAKE ANY TRADE ON MY ANALYSIS, CORRECT YOUR FINANCIAL ADVISOR BEFORE YOU TRADE.
I WILL NOT PUT THIS DISCLAIMER ON EVERY SINGLE IDEA
USE MY ANALYSIS TO LEARN.