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...
Buy ULTRACEMCO between 3945-3955 T1: 3990 T2: 4025 T3: 4050 SL: 3918
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
ULTRACEMCO trade setup Long above 4305 Short below 4250 Targets and Sl will be updated once trade is active
Short at 4400 Low risk high reward setup T1: 4320 T2: 4250 T3: 4150 SL: 4455
SHORT ULTRACEMCO between 3950-3960 SL: 3980 Targets: 3900/3860
Short ULTRACEMCO at 3915 T1: 3890 T2: 3860 T3: 3845 SL: 3935
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