NSE:ULTRACEMCO Weekly Chart. AB=CD in process. Stock above safe buy zone. But seeing the previous wave this trade seems risky. Enter with small quantity. Stop loss below C zone (3783). Target D level = 5200+ By end of Feb 2018.
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
Ultratech has lost 25% of its value in the past two months due to the demonetization impact. I am long on this stock since fundamentally it is a good stock but in the short medium term it will see some selling pressure. With a P/B of 4, these current dips presents good buying opportunities.
Technically note the strong support at 3100 and 2600 levels for this...
It is been observed on Daily chart that the price action breaks below another support levels indicating high pressure of selling and Sellers control over price action. It shall further move down
Target 1: 3040
Target 2: 3000
Stoploss: 3125
Ultratech Cements after its long up trend journey broke at 3921.00 and stock seems struggling for upward movement but has been unable to breakout upward and trading downward since last week and retraced to 38% of fibo level and approaching to crucial 50% level 3410.00, traders may enter short in this stock for target of 3410 to its near term support, alternatively...
ULTRACEMCO trading in small range from last 5-6 trading session today again take resistance at 4075 now stock will down till 4000-3950-3900-3850 and then take support after result and it will break range also Don't known side side or up side.. but if stock break range then stock may be 5% up or 5% down..
