Stock bouncing from "C" Level. But buy only above blue square box ( 485) with target of 600+ . Stops below 410. PRZ (Possible reversal zone 640/660)
Short Ultratech below 4180 SL: 4238 Target1: 4100 Target2: 4050
We can clearly ascertain from the chart, Ambuja cement is resting on 61.8 line, trying to breakthrough, seems it's weak effort. Am expecting fresh bullish momentum to upside reaching around 250's zone with stops around 238's. If you go more keen on 15mins you can see channel's in Ambuja, As I usually say try as per your plan, just giving out one of the ways here...
Ultratech Channel and a trend line observed on hourly chart. Please use this as a reference for your trades.
After Nifty and Titan completing successful double bottom's as per my earlier post's , it seems to be Heidelberg Cement's turn to follow suit. Perfect double bottom pattern formation although still not confirmed on closing basis. It made a high above the peak of 123.45 . RSI & MACD both showing postive divergence on daily charts make this stock to be put on radar...
Ultratech has lost 25% of its value in the past two months due to the demonetization impact. I am long on this stock since fundamentally it is a good stock but in the short medium term it will see some selling pressure. With a P/B of 4, these current dips presents good buying opportunities. Technically note the strong support at 3100 and 2600 levels for this...
If this trend line is valid then can Ultratech Cement be bought at around 3935?