Thanks to the acquisition, $AMBUJACEM.NSE has had a shortened Wave 2, and a quick spurt for a Wave 3 rising Impulse. Though third waves are generally the longest, but in this case the shortened lifespan and depth of corrective wave 2 pullback has been kept in mind for conservative Wave 3 and eventual Wave 5 projections. It can rise up to 700-940 zone before a wave 4 pullback and then an eventual rise up to 1200 or so. *The trajectory is the best case conservative estimate and the levels will alter after and in accordance of the actual termination of Wave 3 and then after Wave 4, while keeping the same ratios intact.
A secular trend seems to be enveloping the Cement sector. With $ACC.NSE's fortunes tied to the same acquirer as $AMBUJACEM.NSE, other stocks are joining the similar price Trend as well, though in their own ways respectively. $ULTRACEMCO.NSE is still in the corrective phase after the Year 2021 highs, with the price correction not being deep at all. $INDIACEM.NSE has done a Multi Year breakout above its 2007 Highs. And, $SHREECEM.NSE has had a flattish sideways price correction for the last few years, which is its trademark style as not much distribution ever gets witnessed in this particular stock. The entire cement sector is well poised and is raring to go.