NSE:ULTRACEMCO
As one can se that stock at harmonic support of this pattern (halfbat), if find reversal in this zone with any good reversal candle then one can go for swing trade any closing below 6006.95 on closing basis and next day if same candle's low break then that could be stop loss for this pattern. target 6800 and above on trailing basis....
NSE:ULTRACEMCO
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 That Dash Line Is Called...
Fundamentally a very strong stock. Has been on a down trend for a very long time with RSI in oversold zone. Wait for an reversal candlestick pattern at the mentioned level for long term investment.
Good opuurtunity for long term investers and also for short term investers too. This Ultratech script is in good form and strongly have my conviction that it may reverse from around this level or around 6200 range and my stoploss for short term trade would be around 6170 level.Long term investers just accumulate this legend for good ROI.
Short between 7180-7200 with SL above 7250
Target 1= 6760
Target 2 = 6610
Note : Trading in any financial market is very risky. I post ideas for educational purpose only. It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.
With Major thrust being anticipated in budget for infra.....
cements and real estate... segments can possibly be very volatile based on the news flow...
Like..... share.... follow.....
short below 7000 in Intraday
For stoploss in Intraday use 5 minute chart and see nearest resistance.
for target use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical analysis
NOTE: For Gapdown or bd before...
ULTRATECHCEMENT important levels for long term investment
Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
The stock recently tested its long-time trendline support. If sustains above may go in an uptrend. And if breaks the levels of 7200 on a closing basis, then wait to come down to the lower horizontal support channel. As shown in the chart.
Only for learning and sharing purposes.
best of luck.
