Ultratech - Short term Bearish
Ultratech on daily time frame, we can see oval (if not perfect round) format.
Incase if breaks below trend line - we can see good downside in short term.
Please remember - currently trading just above 50 EMA
Volumes are below average
Next immediate support will be 50 EMA / 7054-6998 / 6685
Add to watchlist - please spend time and effort on own analysis before investing.
ULTRACEMCO trade ideas
Ultratech Cement | Ascending triangle breakout Ultratech cement has given a breakout from its ascending triangle formation on 12th July 21. Although the volume isnt good enough, one can enter while the previous resistance is tested. 1:3 reward can be the target as it is an all time high breakout. stop loss under the break out candle (6840). Target 7890.
Sharing this for educational purpose only
Is It Right Time To Buy/Sell Ultratech Cement Share…. ?Is It Right Time To Buy/Sell …. ?
Welcome To This Analysis About Ultratech Cement, We Are Looking At The Daily Time Frame Perspective. As I Discovered Recently In My Analysis Is Ultratech Cement Reached/Trading Nearest There Diagonal Support, And Price Finding Support At Its 50-day Exponential Moving Average And As Looking At My Chart We Can Watch There Ultratech Cement Is Within This Main Ascending Triangle Formation When Ultratech Cement Stock Has Reverse From This
Support level Then It Has To Continue Bullishly..
But Another Side On Ultratech Cement, Head And Shoulder Pattern Are Looking At The 4 Hrs Time Frame , So There Will Be Chances To Break Down Its Support Level And It Has To Continue Bearishly..
So At This Movement There Will Be More Chances To Ultratech Cement Continue Its Bullish Trend But We Can't Deny To Price Follow Its Bearish Swing So At This Movement My Prediction Is :-
Ultratech Cement Buy :- If Share Price Pushies Up To & Sustain Above Upper Horizontal Line Level 6736, Then It's Most Probably Go for - 6954 (Resistance Level) Our Profit Booking Zone is Between 6925-55 Price Level. And Stop Loss For This Trade Are 6600.
Ultratech Cement Sell :- If Share Price Pushies Down To & Sustain Below Lower Horizontal Line ( Fig-2) Level 6671, Then It's Most Probably Go for - 6544 (Support Level) Our Profit Booking Zone is Between 6599-6544 Price Level. And Stop Loss For This Trade Are 6764.
ultratech cement waiting for breakoutbuy ultratech
1.as not much move in 3 months and consolidating in range
2. last 2 week formed doji
3.taking support on 62% level 6523
4. in uptrend therfore expecting breakout on upside
5. box pattern and also inside it small box pattern
big sl 5940 weekly close below it
small sl below 6525 weekly close
small tgt 6958
above 6958 then 8000
as weekly we are considering therefore be patient and follow price action only
invest only emotion free money