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Published on 26/02/2020 12:05:31 PM | Source: HDFC Securities Ltd

Momentum Pick : Ambuja Cements Ltd For Target Rs.230 - HDFC Securities

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

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Momentum Pick : Ambuja Cements Ltd For Target Rs.230 - HDFC Securities

* After showing a minor declines/sideways consolidation, the stock price has shifted into an upside bounce today.

* Currently, the price is making an attempt to show upside move above the key upper resistance.


* The short term trend has turned positive.

* We observe a formation of positive candlestick pattern as per intraday/daily timeframe chart.

* Volume has started to rise along with the upmove in the stock price.

* The daily/intraday RSI is showing positive indication.

Recommendation

Buy Ambuja Cements Ltd @  205 - 212 SL 201.90 Target 230 CMP 427

 

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