ULTRACEMCO make trend continuation short pullback here keep watch trade safely
Disclaimer:
The information contained in this presentation is solely for educational purposes. Does do not constitute investment advice. I may or I may not take the trade.
The risk of trading in securities markets can be substantial. You should carefully consider if engaging in...
Stock has formed big W reversal pattern and showing bullish divergence therefore it looks good for buying at this level. It has broken the short term trend line and RSI (14) is also healthy above 50. One can buy the stock now for a target of 4000 in due course by providing suitable SL.
Disclaimer : All ideas are my personnel view. Please take financial consultancy...
Sell ULTRACEMCO at 4054 with Stop-loss of 4080 (Stop loss is on closing basis, Please do not exit the stock in intraday volatility), and Target of 3980
ULTRACEMCO has showed good strength on weekly chart by taking support at the channel median as well as 13 weekly average.
Positional traders can buy at CMP
T1: 4750
T2: 5000
SL: 4150
Ultratech has closed above the trend line and 13wk moving avg (as there are 13 weeks in a quarter) on weekly chart indicating strength.
We can expect it to gain some momentum in the coming weeks
T1: 4500
T2: 5100
SL: 3940
