EXPLANATION : This is a 1 hour time frame chart of ULTRACEMCO , It has formed Inverted Cup & Handle pattern breakout & continue down trend . I am bearish on ULTRACEMCO .
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🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
Possible uptrend in UltraTech Cement.
Should goto 7500 levels easily and then fly :)
PS: For educational purposes only.
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Buy Above 7004.00
SL @ 6800
Targets :- 7199 , 7399 , 7599 , 7799 , 7980
Good Stock
Avoid entries , if there is a Huge Gap Up / Gap Down
Take Entries as per Price Action
** Only for Educational Purposes
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The stock is at an important zone, it has taken support from the yellow line multiple times and if it is taken out we may see marked levels.
In case stock takes support again from this zone then upper marked levels on the chart would be tested.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Looks good for a quick option.
Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade
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If you like my...
If Ultratech Cement give Breakdown of 6000/- Support,we can see the Levels of 5600/- Easily.
OR
If it Bounce Back from 6000/- Support, we can see the Levels of 6500/- Easily.
SL your Risk.
ULTRATECH CEMENT is trading at an all-time high and failure to break 6973 Strong RESISTANCE level 3 times and is an indication of the strong BEARISH trend in upcoming days.
Fundamentally strong stock to hold for the long term, but as per the P/E ratio it's a bit expensive (below 24) is a discount price.
SO TECHNICALLY AND FUNDAMENTALLY STRONG BEARISH TREND,...
NSE:ULTRACEMCO
Short only if find reversal. Reversal Zone already Mentioned on chart.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
The stock looks good to short below 5280 for the targets of 5080 and 4820 until 5525 is intact on the upside.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
