Theory:
DIAGONAL:
Diagonal are the motive waves like an impulse wave, but diagonals are different from impulse wave in that they do follow the first two Sutras (rules of impulse wave) for wave analysis, but it does not follow the third one i.e. Wave 4 should not intervene the territory of the wave 1. In a diagonal wave 4 always enters into the price territory of...
The cement stock is building positive momentum, all the EMA are inline at 30 min TF.
Once the resistance line is crossed, the stock may not give chance to entry at expected level.
After todays .25 % hike. There is no negative news expected in the market soon.
The above impact is already absorbed in the market.
Take you own decision and consult your financial...
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...
Ultratech Cement after breakout its Ascending Chart Pattern trying to sustain above Levels but not get Sustained and get major or Agressive SellOff
If ULTRATECH cannot hold 6850 Support we can see further down move untile next support which is 6100 approx
KEEP AN EYE ON IT….!!!!!
The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets...
Currently, UltraTech Cement is trading over its strong support zone, which previously served as a resistance area.
We can see that the price has come back to test the head and shoulders pattern's breakout & we can see Selling Volume is getting Exhausted.
On the chart, I have drawn a red trendline. Planning a buy trade is possible if trendline breakouts occur.
for...
Ultratech is coming near previous demand zone and Risk Reward looks good for buyers.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
I explained everything in the chart itself & do keep it in mind tht this is a WEEKLY chart so my only point of sharing this is to share my BIAS but if u wanna find entries u should go to the lower TFs.
TRADE AT UR OWN DISCRETION WITH GOOD RISK MANAGEMENT.
Bullish on Ultratech Cement
Inverted Head & Shoulder pattern
Should Give as same % Upmove as the Head of pattern
Right Now focusing on ATH
*Not a Trading Advice, Just For Education Purpose*
Ultra tech cement giving a break out of head and shoulder pattern on the higher time frame.
The stock on the weekly time frame has given a breakout of the inverted head and shoulder pattern with good volumes.
On daily time frame, the stock is halting on the higher levels. The stock as also formed an inside candle on the daily time frame.
3 point confirmation....
Chart -> Ultratech Cement Weekly
An inverse head and shoulder breakout in Ultratech Cement.
CMP: 7237
Targets: 8080 and 8950
Good range: Around 6760
SL: 6130 weekly close
Disclaimer: This is for educational purposes only, not any recommendations to buy or sell. As I am not SEBI registered, please consult your financial advisor before taking any action.
NSE:ULTRACEMCO
#NSE:ULTRACEMCO formed Beautiful
Inverse #Headandshoulder (W) pattern
#Trendline BO
Trading @ major #Resistance.
TL & Resi BO may show good momentum with small pull back, rejection from This level may consolidate.
Levels mentioned on chart !!
