Ultratech cements looks bullish above given levels...

323 8
Everything mentioned on chart...
Trade active
Trade closed manually: yesterday SL HIT
Did SL trigger ??
its already treding up from 24Oct based on crossing trending line, can you please explain the reason for bullishness... is it technical / fundamental
Might want to look at risk reward. Target of 60/100/140 for a risk of 90 points?
+1 Reply
AkshatPatwa rohitkatwal
@rohitkatwal, Trade is active bring SL to todays low... :) All the Best..
@AkshatPatwa, well i want to ask one thing though u guys r on top but just letme know what r the technical aspects which u guys r spreading here . just put a line bullish above this... call hit m on top , means no technical just one line and drawings these days . on name of technicals there is only crap . no valid pattern . its like giving a betting trade .
@rohitkatwal, whats that . ;-p
rohitkatwal thoughtfullinvestor
@thoughtfullinvestor, Its called KISS. Keeping It Simple Stupid. You can put any number of indicators and try to read them only to fail on them later. Indicators as a part of Technical Analysis is nothing but some formula that derives its value from past prices. Now how can that derived value tell where the stock will move. The only indicator that is required is Price and Volume. Based on that you can analyze the trend, distribution accumulation, false breakouts, possible targets and fake breakouts to put stop losses. It's a very minute study. Just because it looks simple doesn't mean it is. Price moves in staircase pattern. It rises, it false, it rises more and vice a versa. It makes channels. Price is moving high or low or is just rotating can only be known by a reference point which is done by horizontal lines.

On top of that stocks you trade in is like your girlfriend. With every tick of price and volume there is a hidden hint on what it is going to do next. That hint can mean different at support or resistance horizontal lines or trend lines even. Like your angry girlfriend, you know with experience in what way she is going to react if you do something. Same goes for stock. Some breakout only to retrace back. Some breakout and keep on breaking. Some breakout and then go sideways. All this is referenced with these simple lines only and that takes time and experience. Market teaches new thing every other day.
+4 Reply
mz8893 rohitkatwal
@rohitkatwal, Excellent response.
+2 Reply
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