AMBUJA CE­MENT

Flash News Investment - - YOUR TECHNICAL PORTFOLIO GUIDE -

I’m hold­ing the stock of Ambuja Ce­ment bought at higher price and suf­fer­ing a loss at present. Con­sid­er­ing the sharp fall in the stock price and mar­kets, should I av­er­age at the cur­rent lev­els? - Satish Kothari

AVOID AMBUJA CE­MENT FOR NOW

Ambuja Ce­ment is cur­rently trad­ing at Rs 213.45. Its 52-week high/low stand at Rs 288.65/Rs 189 made on Oc­to­ber 31, 2017 and July 17, 2017, re­spec­tively. The stock af­ter reg­is­ter­ing its 52-week high level formed lower peaks and lower troughs and made a low of Rs 189. How­ever, post the low, the stock wit­nessed a de­cent rally and marked a high of around Rs 245 level and this turned out be a breather rally af­ter a sharp fall and the stock con­tin­ued its slide down­wards. The stock is trad­ing be­low its im­por­tant mov­ing av­er­ages, i.e. 100-DMA and 200-DMA, which is neg­a­tive for the stock. The 14-pe­riod daily RSI is trad­ing be­low its nine-day av­er­age and mov­ing in a down­ward tra­jec­tory sug­gest­ing a neg­a­tive bias. Con­sid­er­ing the above fac­tors, we would sug­gest you to avoid av­er­ag­ing in this stock at the cur­rent lev­els.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.