Ambuja Cements | Consolidation breakout| Latest stock market news

 (3 minutes read)

Stock name: Ambuja Cements
Pattern: Consolidation Breakout
Time frame: Daily
Observation:
Ambuja Cement has formed a base near the 20 DEMA, surpassed the falling resistance trend line, and given a breakout of the consolidation zone. It has formed a strong bullish candle on the daily scale with rising volumes which indicates buying interest. If the stock sustains above the trendline then we may expect an up move in the stock.

You may add this to your watchlist to understand further price action.
Disclaimer: This analysis is purely for educational purposes and does not contain any recommendations. Please consult your financial advisor before taking any financial decision.
News for the day:
1. The leading FMCG giant Dabur India has forayed into the massive branded spices and seasoning sector in India, worth over Rs 25,000 crore by acquiring a majority stake in the country’s top spice brand Badshah Masala. Dabur bought a 51% stake in the Indian spice major Badshah Masala for Rs 587.52 crore, in line with its strategic intent to expand its food business.

2. India’s anti-trust regulator, the Competition Commission of India (CCI), on October 25 imposed a penalty of Rs 936.44 crore on Google for abusing its dominant position with respect to its Play Store policies.
3. Kaveri Seed Company Ltd on Thursday announced that its board of directors at the meeting held on October 27, 2022, has approved share buyback of up to ₹125.6 crores at a maximum buyback price not exceeding ₹700 per share.