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Ambuja Cement : Targeting Price Level 270

The stock of Ambuja Cement looks to be in its final fifth wave from its low of 191 made on 22nd November, 2017.



Looking at the chart given above the stock seems to have either completed or about to complete the inner wave four of its extended fifth wave. This last leg of the extended fifth can extend up to price level of 260 - 275 or can and move beyond the upper resistance line.

Any move below the price level of 227 would change the situation. So, it would be detrimental for the long position if price level 227 gets broken downside.

Disclamer:

All views, charts, comments, post or any materials of any kind discussed, published, posted and/or commented are for educational purpose only and not meant to be an advice to trade nor does it or the publisher of it guarantee any sort of return or the correctness of the post or any materials.

Undertake proper research and advice of your investment consultant before taking any trade.

Trade at your own risk.

Twitter: @beta_trade

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