Ambuja Cements wave 3?

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 Ambuja Cements daily chart

Analysis

From the above chart, prices are positively poised as it is making a higher highs and higher lows. Currently the stock is near to 455 levels and can move higher going ahead. Price ROC which is placed at the lower panel is in the positive terrain and also supports the positive momentum for the stock.

As per Wave analysis, the stock is either moving in an impulsive fashion or in a corrective pattern in both the scenarios the bias remains positive and can reach towards 161.8% of the wave i and wave ii placed at 490-495 price zone.

The summation is, the bias for Ambuja Cements remains positive as the stock has enough vacuum to reach towards 490-495 levels over short to medium term.

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