Indian Cement Sector Blue Chip Chart Update

ACC:

Acc is trading very close to bottom of red price channel.  Trend line support exists at 1110 and MA support exists at 1101. Break of Psychological level of 1100 will bring in more weakness and price will follow newly formed BLUE price channel in that case which means more steep fall as angle of price channel is very steep. Target for this setup is 1053.

On the Other hand break of blue channel will be first sign of strength buy above 1140 for target of 1154 and 1165. 

Ambuja Cement:

It is trading below the support line connecting lows from OCT 2008. Price is trading near bottom of price channel and trend line support zone of 161-62; below which next major support exist at 154. On upside 169-70 will act as Resistance.  Close above it will be first sign of strength target 173, 175 & 178

Please note if long trade is triggered in any of the counter; please trade with strict sl as larger time frame trend is down.

So ,plan your trade accordingly. 

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All the views and contents mentioned in this blog are merely for educational purposes and are not recommendations or tips offered to any person(s) with respect to the purchase or sale of the stocks / futures. I do not accept any liability/loss accruing from the use of any content from this blog. All readers of this blog must rely on their own discretion and neither any analyst nor any publisher shall be responsible for the outcome.