 "Chart Check: Ambuja, India Cements range-bound; UltraTech can gain up to 8%")
Ambuja Cements (AMBUJACEM)
Outlook: Falling trendline pattern
The falling channel pattern shows a negative trend for the stock. On the higher side, the falling trendline shows Rs 400 as the immediate resistance. On the downside, Rs 330 seems to be the lower falling support. The immediate trend exhibits sideways movement, as per the daily chart. CLICK HERE FOR THE CHART
The Ramco Cements Ltd (RAMCOCEM)
Likely target: Rs 800
Downside potential: 8%
The shares of Ramco Cements have violated the crucial support of Rs 920 and are drifting to lower levels with the Moving Average Convergence Divergence (MACD) falling below the zero line. The trend is bearish and if the counter fails to show recovery soon, the negative sentiment could see Rs 800 level, according to the weekly chart. CLICK HERE FOR THE CHART
ACC Ltd (ACC)
Outlook: Indecision scenario
The support of the 50-day moving average (DMA) stays strong for the shares of ACC Ltd, according to the daily chart. The 50-DMA is currently placed at Rs 2,163 level. On the higher side, the stock has resistance around Rs 2,400 level. The present scenario suggests indecision and any decisive breakout of these two levels would display the further course of trend. CLICK HERE FOR THE CHART
India Cements Ltd (INDIACEM)
Outlook: Current levels are testing the range
The shares of India Cement Ltd has crossed the selling pressure range of Rs 230 to Rs 220 level in the current month and is set to rally upward from a medium-term scale. The current weakness is testing the support of the range and a sideways momentum could see a sharp reversal, as per the weekly chart. CLICK HERE FOR THE CHART
UltraTech Cement Ltd (ULTRACEMCO)
Likely target: Rs 8,000
Upside potential: 8%
The support of Rs 7,000 definitely shows the level of accumulation, which is also the breakout mark in July 2021, according to the weekly chart. The stock did take reversal three times around the same level indicating a major wall of support. The bullish bias could be heading towards Rs 8000-mark. The immediate support comes to Rs 7,300 and Rs 7,150 levels. CLICK HERE FOR THE CHART
Outlook: Falling trendline pattern
The falling channel pattern shows a negative trend for the stock. On the higher side, the falling trendline shows Rs 400 as the immediate resistance. On the downside, Rs 330 seems to be the lower falling support. The immediate trend exhibits sideways movement, as per the daily chart. CLICK HERE FOR THE CHART
The Ramco Cements Ltd (RAMCOCEM)
Also Read
Downside potential: 8%
The shares of Ramco Cements have violated the crucial support of Rs 920 and are drifting to lower levels with the Moving Average Convergence Divergence (MACD) falling below the zero line. The trend is bearish and if the counter fails to show recovery soon, the negative sentiment could see Rs 800 level, according to the weekly chart. CLICK HERE FOR THE CHART
ACC Ltd (ACC)
Outlook: Indecision scenario
The support of the 50-day moving average (DMA) stays strong for the shares of ACC Ltd, according to the daily chart. The 50-DMA is currently placed at Rs 2,163 level. On the higher side, the stock has resistance around Rs 2,400 level. The present scenario suggests indecision and any decisive breakout of these two levels would display the further course of trend. CLICK HERE FOR THE CHART
India Cements Ltd (INDIACEM)
Outlook: Current levels are testing the range
The shares of India Cement Ltd has crossed the selling pressure range of Rs 230 to Rs 220 level in the current month and is set to rally upward from a medium-term scale. The current weakness is testing the support of the range and a sideways momentum could see a sharp reversal, as per the weekly chart. CLICK HERE FOR THE CHART
UltraTech Cement Ltd (ULTRACEMCO)
Likely target: Rs 8,000
Upside potential: 8%
The support of Rs 7,000 definitely shows the level of accumulation, which is also the breakout mark in July 2021, according to the weekly chart. The stock did take reversal three times around the same level indicating a major wall of support. The bullish bias could be heading towards Rs 8000-mark. The immediate support comes to Rs 7,300 and Rs 7,150 levels. CLICK HERE FOR THE CHART
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