AMBUJA CEMENT after making a new high of 216.3, corrected till 162.25 which is almost 23.6%.
From the low of 162.25 stock almost retraced to 50% and then trading in a range 181.3 to 195.
For last 4 trading sessions stock is trading with high volume and also closed above 200 DEMA.
If stock trades above 193.5 that is going to be trend line breakout.This stock is getting ready to break out of the trading range. If that happens stock may see the levels of 202/207/214/216/225.
Note: Also watch for ACC to go long if closes above 1280 to see the higher levels of 1321/1349/1452.