Ultratech Cement has witnessed a bullish breakout on the daily chart, indicating strong upward momentum. This breakout could signal a potential continuation of the uptrend, making it an ideal entry point for traders looking to capitalize on further gains.
Ultratech cement forming a M pattern which is a bearish one and neck line is around 11220. Sell Ultratech if around 11200 and add shorts if we see bounce towards 11600. We expect to see 10300 - 1000 range in coming months until 12100 is intact.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India
NSE:ULTRACEMCO
ULTRATECH CEMENT GIVES BRAKEOUT ON DAILY CHART
I am buying this stock
Near 11200
Follow Sl 10300
And my Target is 12900+
Risk reward ratio is 1:2
Return 15%
Ultratech cement looks weak at higher levels and we expect to see profit booking towards 10000 - 9770 levels. Sell between 10900 - 10800 and hold for targets until 11300 is intact on the upside.
Sell - Between 10900 & 10800
Target - 10000 to 9770
SL 11300
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India
Hello Guys.
When ever the New Trend emerges. Those who are late comers / Confirmed comers like me into the trends will look for.
1. Stock is Creating a zone & waiting in the box.
2. Doji is very interesting candle. If it formed between the move has started , this indicates a Trend pause & will continue once the high of the doji is Breached.
3. RSI signal &...
Ultratech Cement Today just given a Breakout of ATH 1550 levels.
Great stock for Momentum option Buy. Wait for the pullback to complete & 10 ema support.
Positions to be Created on successfull pullbacks.
Pullback could occur near 60 RSI levels.
MONTHLY RSI > 60
WEEKLY RSI > 60
DAILY RSI > 60
KEEP this volatile stock in your Watchlist to get the Swing...
Let’s analyze the chart pattern for UltraTech Cement.
The chart indicates that UltraTech Cement is currently forming a falling wedge pattern or a falling channel pattern. These patterns are considered bullish and suggest potential upward movement in the stock price.
Here’s what each of these patterns signifies:
Falling Wedge Pattern:
A falling wedge is...
The stock price has doubled since June 2022. As per the chart, has been traveling in a rising parallel channel. This time resting at the upper edge. If the price is rejected here, there may be some correction time ahead.
One has to decide the entry and exit levels very wisely.
This illustration is for learning and sharing only. Not a piece of trading advice in...
Ultratech spot at 10500
Weekly time frame
Ascending parallel channel formation
Equivalent harmonic ABCD pattern formation.
counter can face resistance around current levels and going ahead.
if not able to sustain higher counter will give a sharp reversal of 1500-2000-2500 points ,,
keep watch.
This assumption is made as per parallel channel and harmonic pattern,...
Cement sector stocks are facing a little resistance at the top and let's see if it breaks the zone and starts a new rally in the coming months.
NOTE: I'm not a SEBI REG. Study before investing.
Namaste!
1. Ultratech looks good for a positional/swing trade.
2. Entry price and Stop Loss is marked on the chart. If the stock open gap up, then limit order at the entry price will be placed.
3. This trading idea is only valid till next 4 trading sessions. If entry doesn't execute till then, it will be cancelled.
4. Target can either be booked at 3 times reward,...
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...
It is clear from the charts that the stock is trading in a parallel channel. yesterday's price was rejected from the upper resistance. if the pattern continues, it should come down to the indicated levels.
The logic behind entering here is a good risk-reward ratio at the moment.
Only for learning and sharing purposes, not a piece of trading advice in any form....
It may take support here as the stock is in uptrend first expectation is that it will continue the trend. Let it take support and then let it give low risk entry point then enter. If it is not coming then let it go..
Good technical pattern under formation. Once the triangle breaks on the upside there can be target of 11000. All the cement companies shares are doing good except ACC & Ambuja which are under pressure due to other reasons. Hence, It will be good to take this bet as whole sector is performing there are higher chance of breakout but for safety perspective SL has to...
