Ultratech was trading in a falling channel which got supported on its demand zone (3960-3950), bounced from this level and yesterday it broke that channel. Seems good buy considering rally in reality sector.
Note: This is for educational purpose only.
There is a bullish breakout with ascending triangle formation. Ultra high volume confirms the momentum of the bullish breakout. Moreover, there was a build up near resistance which is a sign of bullish strength. RSI above 60 adds to the conviction of bullish momentum.
Bank Nifty - Technical Analysis:
Bank Nifty started off the day with a gap-up opening but soon corrected over 1.7% within an hour. The bears then started booking their profits due to which Bank Nifty retraced upward before settling near the day's high.
On the hourly chart, Bank Nifty gave a failed breakout above the EMA20 line and formed a red candle after...
A nice Shoring opportunity is found in UltarTech Cement. Risky traders can trade in June 2020 contracts in Futures and Risk averse can trade using Put Options.
Pattern - ABC Correction.
Can I trade in cash segment also - YES with a strict Stop loss.