Ultratech - Positinal Setup
Updated
It is clear from the charts that the stock is trading in a parallel channel. yesterday's price was rejected from the upper resistance. if the pattern continues, it should come down to the indicated levels.
The logic behind entering here is a good risk-reward ratio at the moment.
Only for learning and sharing purposes, not a piece of trading advice in any form.
All the best.
The logic behind entering here is a good risk-reward ratio at the moment.
Only for learning and sharing purposes, not a piece of trading advice in any form.
All the best.
Note
The setup worked in intraday itself. Moved 60-70 points. Let's see ahead. have a relaxed weekend.Note
Stop-loss hit. If sustains above 8370 for quite some time, may go towards 8980. All the best.
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