Technical call in Ambuja cement –

Ambuja Cement sell below 180 sl 195 target 160-140

we may see up trend in stock above 195 closing or after finishing selling at down side it may try to reverse from 140-160 range.

Technical study –  AS you look at the daily chart of Amubja cement it can clearly shows us that it is going through consolidation period in a range of 180-195 which is shown on chart buy two white horizontal lines.

stock is very well trading below its 100 MA and 200 MA level where as its 200 MA level is at 195 range so its major stock now.

Trend line study suggest that stock is in falling direction with the lowering its top time to time, If we consider RSI and price chart together we can see that this is the case of negative convergence, means price falling by lowering top teach time but RSI moving in up direction by increasing tops.

According to latest candle stick pattern we can see that last candle of 31st may 2013 is having longer upper Shadow and given close near low with small gains. means on this particular day bulls have try to pull the price but unable to sustain upside and at the end bears have taken control of it and that why stock given close near low.

above all study suggest that if stock price give close below 180 level then we can see more correction in stock till recent support range. but still to keep in mind that, if stock able to move above 195 and close above this then it will end the down trend and will start new uptrend. so we enforce you to follow given levels for guidance in you positions..