Q&A_ When to sell Ultratech?Namaste!
I often wonder why do retail people and even institutions sell when the stock has been already fell. Why didn't they sell when the stock was rising?
I follow a simple principal. Either sell it at a profit or don't sell.
Anyways, In the weekly chart of the ultratech, you must have noticed the circles I've drawn.
These circles represent the price as well as volume candles.
Rising prices should mostly be supported by the rising volumes. But in this case, the volume is falling. This can be a fake-breakout. And the number 3 is very strong indication.
This isn't the 1st time for Ultratech. The stock has proved the above statement two times previously.
Opinion to investors: Well, investors should never sell any stock they own. This isn't limited to this stock, but to any stock. But, if you were planning to add more (buy more) shares, you can wait for a correction.
Opinion to traders: Well, you can trail your stop loss to either Rs 6510 or Rs 6584. Again, both the prices has importance of their own, so don't get excited for the high SL price. The first price is based on the weekly candles and second is daily.
Disclaimer: The analysis I have shared is based on my understanding and experience in the markets. Investment does not guarantee a fixed return due to volatile nature of markets and may result in a loss. Please do your analysis and/or consult your financial advisor before investing.
