AMBUJACEM- Relative Strength says SELL!
Attached: Ambuja Cements/ Nifty 50 Daily Chart as of 19th April 2023
A Classic Triangle Setup is visible in the above Ratio Chart
The Breakdown of this Triangle would result in the Ratio Selling Off (AMBUJACEM accelerating its Underperformance vs. Index Nifty 50)
Hence this makes the Stock a Sell Candidate based on Weakness
Well if you also look at the Price Chart which I have not shared here but it also has a Classic Triangle Setup with a Bearish Bias just like its Ratio Chart
A Classic Triangle Setup is visible in the above Ratio Chart
The Breakdown of this Triangle would result in the Ratio Selling Off (AMBUJACEM accelerating its Underperformance vs. Index Nifty 50)
Hence this makes the Stock a Sell Candidate based on Weakness
Well if you also look at the Price Chart which I have not shared here but it also has a Classic Triangle Setup with a Bearish Bias just like its Ratio Chart
Siddharth Bhansali
✔️Twitter Handle @T_Harth
✔️Twitter Handle @T_Harth
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