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Momentumisers: Why Ambuja Cements is moving up consistently

Updated : June 18, 2021 10:01:23 IST

Ambuja Cements was up 2 percent on Thursday, June 17, in a weak market, and so far, in this month, it has been up 6 percent and Thursday’s volumes were up 2.5 times the average volume that the stock trades at.

In terms of turnover, Thursday’s turnover was equal to the turnover seen in the last four preceding days in the trading sessions.

The stock price right now is comfortably above 20-50-100 and 200-day moving average.

In terms of action from the Futures and Options (F&O) segment, the open interest was around 3.6 percent. So, we did see some short covering in the stock on Thursday.

Watch the accompanying video of CNBC-TV18’s Sonal Bhutra for more details.
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