Trading strategies for Bandhan Bank & Ambuja Cement by Ajit Mishra

The stock of Bandhan Bank has been underperforming the banking index and is still struggling below the resistance zone of moving averages

Ambuja Cements Limited

Recommendation: Sell December Futures

Last Close: 379.05

Initiation range: 381-383

Target: 365

Stop loss: 390

Mostly cement counters have been witnessing profit taking and AMBUJACEM is trading in sync with the others. After a sharp decline, it witnessed a marginal rebound of late but failed to surpass the resistance zone around 385 levels. Indications are in the favour of the resumption of decline in the near future. We thus recommend creating fresh shorts in the mentioned zone.

Biocon Limited

Recommendation: Buy

Last Close: 378.15

Initiation range: 374-377

Target: 398

Stop loss: 365

BIOCON has witnessed a decent correction in