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Published on 13/11/2019 10:00:38 AM | Source: Religare Securities Ltd

Sell Ambuja Cements Ltd For Target Rs.194 - Religare Securities

Posted in Broking Firm Views - Short Term Report| #Ambuja Cements Ltd #Cement Sector #Trading Report #Religare Securities Ltd

Ambuja Cements Limited (AMBUJACEM) 

In line with other cement counters, AMBUJACEM has been trading with negative bias for the last several months. Though it has had rebounded in between but couldn’t surplus the resistance zone of long term moving averages on the multiple time frames. It has recently failed to cross hurdle placed at 205 levels and formed a fresh shorting pivot.

Recommendation

Sell Ambuja Cements Ltd Futs @ 202-204 SL 206 Target 194 CMP 200.90

 

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