Happy learning with trading. I just shared my view. If correct give me one like. If not correct me.
Disclaimer:
I am not a Registered Analyst with SEBI and it is only for educational purposes. Please consult your financial advisor before making any decision. I will not be responsible for any of your profits or losses.
The stock price has doubled since June 2022. As per the chart, has been traveling in a rising parallel channel. This time resting at the upper edge. If the price is rejected here, there may be some correction time ahead.
One has to decide the entry and exit levels very wisely.
This illustration is for learning and sharing only. Not a piece of trading advice in...
There is Head and shoulder pattern forming in Ultratech cement
if it breaks 7000 (neckline) we may see new highs in Ultratech.
if it faces rejection at neck line it may go further down.
I usually don't believe in patterns, since pattern trading era is gone. However, breakout works since price reacts first before the news.
It's just a perspective, a simple chart for pattern lovers.....
P.S: No Hate, only peace & Love for all traders out there!
According to Weekly chart and daily Trendline...There will be not huge downside...
So,if break above the given level than buy some call..
moreover it is taking phycological resistance.
So it is the time correction as well..
Keep you fund ready to buy above the mentioned level....
Just wait at the support level. When it breaks and retests, the lower end of the broken candle becomes the entry point. Place a stop loss and trail it until the next support level.
UltraTech Cement is trying to break the flag-pattern. Once done we can expect the price to move to 12500+. Pls see my other charts to see the breakout. Other factors:
1. Volume is steady
2. RSI will move up gradually, and once we see it moving above 60, stock can be super bullish
3. MACD is also becoming positive and as the price breaks out, we can see it...
Ultratech spot at 10500
Weekly time frame
Ascending parallel channel formation
Equivalent harmonic ABCD pattern formation.
counter can face resistance around current levels and going ahead.
if not able to sustain higher counter will give a sharp reversal of 1500-2000-2500 points ,,
keep watch.
This assumption is made as per parallel channel and harmonic pattern,...
The stock is in an uptrend
A breakout is visible , after forming a small rising wedge
Higher volume, and rise in atr is seen on the breakout candle
Thus, there is a short term trade
tgt 10812 , sl 10115
its a heavy weight of cement sector
currently sector is doing good
ultratech retested perfectly cup&handle
closed above retest area + 20ema green line supported
all the targets mentioned on chart
put SL as per your system or risk apetite
i am not a sebi register adviser
its my own analysis
pls make sure you do your analysis dont jump on the trade
Ultracemco on weekly timeframe (although weekly closing is pending) is forming a rising wedge pattern and suggest that longs here need to be very cautious or start booking/trailing the profits.
Rising wedge pattern can be both a bearish continuation and bearish reversal pattern, when it is accompanied by declining volume it is a deadly combination and a clear...
