Ambuja Cements bear flag breaks, support 341, resistance 405

Ambuja Cements trades near Rs 358.90 after a bear flag breakdown, with support at Rs 341 and resistance at Rs 405 ahead of Q2 results. Ambuja Cements Limited [

] closed at Rs 358.90, down 1.13%, with its Q2 FY27 results due on 29 October. The stock is about 5% above its recent low of Rs 341. 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. Q1 FY27 revenue and profit had declined. The daily chart shows a persistent decline. After a sharp fall, price formed a bearish pannant, a downward-sloping channel between about Rs 395 and Rs 470, and then broke down to Rs 341. The stock is about 52% below its July 2024 high near Rs 706, with lower highs throughout. Immediate support is the recent low at Rs 341. Resistance is Rs 405, the underside of the broken flag. RSI is 42.43, above its average of 35.74. A close above Rs 405 would be the first sign of a trend change. A close below Rs 341 would resume the decline. Volume is key here. Disclosure: I do not hold any position in this stock. This is not a recommendation to buy or sell. Investments in securities markets are subject to market risks. Read all related documents carefully before investing.