Ambuja Cement Near Technical Buy Level

Ambuja Cement has been in the up trend since the starting of this year. After hitting high of 291 it got corrected nearly 10% and finding a support around 260 where it was acting as a resistance in the month of may and was acting like a support in the month of august. Yesterday it tested its up trend support line and 200 days moving average at 260 and in today's session we see an expected action in the stock. We will be looking for the long position in the stock near 262 with the Stop Loss of 255 with the target of 280. The trade setup provides a good risk to reward ratio of 2:1