indiamarketoutlook

Ultra Cement: Chart set up and strategy

Long
NSE:ULTRACEMCO   ULTRATECH CEMENT
UltraCem

The stock has given a breakout on charts and potential target for the set up can be 5600 / 6100 in weeks to come

Given the set up,
alternatively one may consider the following strategy

Sell Ultracem
31 Dec expiry
4800 Put option
in the range of 50-60

Lot size 200

Max profit potential Rs 10000/- to 12000/-

Take care & safe trading!!!
Trade closed: target reached: Strategy yields the desired outcome.
4800 Put option expiring worthless giving total profits with minimum risk

Trust you all found it useful...

Comments

good analysis!
Reply
can we expect tomorrow also in positive?
Reply
@krish22290, I haven't looked it from an intraday or daily perspective. This is more of a positional view on a weekly chart.

The idea is, if Ultra Cement co, holds above the green line till 19 Dec, then the probability of moving towards 6100 in the next 7 weeks increases considerably

My data system suggests a neutral stance in this counter as of now and

Dips towards 5080 - 5108 levels likely to act as support.
Reply
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