USD/INR, EUR/USD, GBP/USD, USD/JPY, USD/CNY, DXY
VODAFONE IDEA LTD, JET AIRWAYS INDIA, YES BANK, RELIANCE COMM LTD, INFIBEAM AVENUES L, PC JEWELLER LIMITE
Nifty, BSE SENSEX, S&P 500, Nasdaq Composite, FTSE 100, DAX Index
Gold, Silver, Crude Oil, Brent Oil, Natural Gas, Bitcoin
BTC/USD, ETH/USD, BCH/USD, XRP/USD, LTC/USD, ETC/USD
US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y
Gold, Brent Oil, Crude Oil, CFDs on Natural Gas, Palladium, Silver
Big 3 in the cement sector all have a +ive divergence. All are making higher highs..
Watch this space...this could be the start of the revival of the sector overall...
ULTRACEMCO has showed good strength on weekly chart by taking support at the channel median as well as 13 weekly average.
Positional traders can buy at CMP
Since our previous target of Ultratech Cement reached perfectly. Now 4530 will act as resistance which is 6month high tasted in May 2017 and 4270 will act as support which breached recently and it may try to taste same before crossing 4530.
One can keep this in account keeping 4270 as Stop loss for 4930 target.
Since 200DMA crossed by company it has upside till 4140.
stock is in down trend
attempted a pull back
that as sold into
now at crucial level and trading sideways for the past 3 days
any break from current levels (closing) might resume the trend
one can look into the stock at break below (close) yesterday's low
for targets towards 3921/3847
with sl placed around 4159
Typical wolfwave pattern in formation, need final leg of confirmation thoughb
a flag breakout with heavy volume , chart suggest a upmove till 4075, buy with 3820 sl for 4000+ level
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