ULTRACEMCO trade ideas
Ultratech - Cementing a launch padAfter a sharp fall, Ultratech has a made a double bottom with higher lows. After a bit of consolidation, over the past 3 days a triangle pattern has formed. This is a bullish signal. A break above the past 2 day's high will propel the stock from 3900 levels to 4100 levels. A good positional bet with a 5 day horizon. MACD Crossover and RSI divergence confirm the chart pattern
Ultracement is in Tight Range.The stock is moving in tight range as well its RSI. as per the RSI data, it can BO but it has to close above the TL for further upmove.
Ultratech chartBlue Line Represents Trend Line.
Analysis
Long above 3927.45
Targets are 3943.3,3972,3990.2,4013.6,
4036,4038.4,4060
SL-3920
Short below 3905
Targets are 3888.8,3876.5,3872.5,3838,3817.1
SL-3927.45
#Hamonics #ULTRACEMCO on Important Level - #Bullish Shark #Deep #ULTRACEMCO has formed #Harmonic #Bullish #Shark #Pattern at price around 3909 , coincidentally it is forming Deep Crab too (Already touched PRZ), One may decide to wait for inr 100 dip before deciding to enter into a trade...Decent up move expected , view negated below 3780 closing!
It has been falling continuously for past couple of weeks , hence it is going to be very interesting to notice if #Harmonics changes the fortune of this scrip .....
utracemcoThe share is oversold ........
and the numbers are impressive
buy august 4400 ce and hold ......
UltratechCem Buy Pending 4083/- Stoploss 3887/- Target 4280/-UltratechCem Buy Pending 4083/- Stop loss 3887/- Target 4280/-
ultracemco confusioncharts do not provide a clear picture here , would be interesting to see how it goes in coming days
Bearish Bat - Ultracemco - 2hr Bearish Bat - Ultracemco - 2hr
PRZ: 4665-4685
SL: 4710
TGT: 4610, 4575
16-07-2019
Intraday Idea on UltraTech Cement(11-July-2019)Explained in the Chart
Take the Trade on 5 Min chart.
