Ambuja Cements trades near Rs 359 after bear flag break

Ambuja Cements Limited ended the week at Rs 358.90 after a bear flag breakdown. Support is at Rs 341 and resistance at Rs 372 ahead of Q2 results. Ambuja Cements Limited [

] ended the week at Rs 358.90, a fall of 0.31% on the weekly chart. The stock is about 5% above its recent low of Rs 341, and its Q2 results are due on 29 October. The board meets on 29 October to approve the September quarter and half-year results. The company commissioned a 2.4 MTPA grinding unit and a 3 MTPA blending unit in September, taking consolidated capacity to 113.45 MTPA. Revenue and profit declined in Q1 FY27. On the weekly chart, the stock broke down from a bear flag and has fallen from its 2024 peak near Rs 700. The weekly RSI reads 27.65, below its average of 33.45, which is a low reading. In a downtrend the RSI can stay low for long, so it does not show that a bottom is in place. In my view, the trend is bearish. A weekly close below Rs 341 would put lower levels in view, and a move above Rs 372 would weaken the bearish view. Bearish view while price trades below Rs 372. Disclaimer: I do not hold any position in this. This content is for informational purposes only and is not a recommendation to buy or sell. Investments in securities are subject to market risks. Please read all related documents carefully before investing.