 "Motherson Sumi has formed a fresh buying pivot now and looks all set to resume the uptrend")
Ambuja Cements Limited
Recommendation: Buy
Last Close: 276.25
Initiation range: 270-272
Target: 294
Stop loss: 256
Mostly cement stocks have gained substantially in the last two trading sessions and Ambaja Cement is also trading in tandem with the trend. It surged almost vertically from the support zone of the medium-term moving average (100 EMA) on the daily chart and made a new record high as well. The chart pattern, combined with recent buoyancy in the market, is pointing towards a steady up move ahead. Traders can create fresh longs on any dip in the given range.
MothersonSumi Systems Limited
Recommendation:
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