Trade Idea of The Day - Amber Enterprises India Ltd Target Rs.460 - Religare Broking Ltd
Amber Enterprises India Ltd
Amber Enterprises India Ltd BUY 26 MAY 8200 CALL Entry Range 360-370 Target Range 460 Stop Loss 310
Rationale
• On the daily chart AMBER has confirmed a range breakout, supported by a clear structure of higher highs and higher lows, indicating a sustained bullish trend. Price action reflects strong buying interest at every minor dip.
• From the technical standpoint prices are consistently trading above the 20-DEMA, which is now acting as dynamic support. This alignment suggests short-term momentum remains firmly in favour of the bulls.
• Momentum indicators are supportive, with RSI holding above the 60 mark and MACD maintaining a positive crossover, signalling continuation strength rather than exhaustion.
• As long as the price sustains above the breakout zone, the outlook remains positive, with a buy-on-dips strategy in ATM CE remain favourable for the further upside continuation
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SEBI Registration number is INZ00017433
