BUY GUIDANCE:
Never buy before 3PM (for positional trading). I have been burnt many times over. Try to buy between 3:15 - 3:30PM, later the better.
SL: Depending on your risk appetite: Below Weekly BO Candle / Below Daily BO Candle / 50% of Weekly BO candle / Below 20DMA
TGT: After a 10-15%+ vertical move, breakdown of...
Ultramarine and Pigments respecting Fibonacci levels perfectly after breaking out of a Double Bottom and then a Cup & Handle formation. The share is also seeing a rise in volumes as it rises up crossing important Fibonacci levels. The other levels it can achieve are there in Fib series
The stock has already breached its 52 weeks high of 435 but closed below
Overall volume is rising, showing buyers interest
Can be bought above 442 for a possible pivot target of 520
Note: Educational purpose
BOUGHT TODAY ON 08/02/2021 AT rS.360..
THE STOCK GAVE MULTI YEAR BREAKOUT ABOVE 350-351 AFTER 2018..
SMALL STOP LOSS OF RS.326..
BIGGER FRAME STOP LOSS 300..
SHORT TERM CAN DO 435-440
LONG TERM CAN CROSS 500 EASILY.. LETS SEE..
ULTRAMAR has given pole flag breakout on weekly chart and retested it then two continuous bullish candles on weekly basis.
on Daily scale it is forming rounding bottom with a high around 290 levels.
280 levels look like resistance on weekly scale of closing basis.
if it sustains above 280-300 level it can go upto 380 followed by 430 levels.
Ultramarine & Pigments Ltd. engages in the provision of surfactants, pigments,information technology-enabled services, and business process outsourcing. It operates through the following segments: Laundry & Allied Products; Information Technology Enabled Services, and Business Process Outsourcing Services; and Wind Turbine Generator. The company was founded on October 25, 1960 and is headquartered in Mumbai, India.
BSE
