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Investors with a short-term perspective can sell the stock of Ambuja Cements at current levels.
It has been in a medium-term downtrend since encountering a key resistance at ₹240 in late May 2019.
On Tuesday, it breached a key support at ₹200 by declining 4.4 per cent accompanied by above average volume.Overall, the short-term outlook is bearish for Ambuja Cements.
It can continue to decline and reach the price targets of ₹185.50 p and ₹181.50 p in the upcoming trading sessions. Traders can sell the stock of Ambuja Cements with a stop-loss at ₹197.50 p.
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