Flag & Pole Pattern In Ultracemco- Looking Very Strong-Flag & Pole Pattern
-Gave Strong Closing Near Resistance
-Rsi also ready for breakout
-volume is high - keep in radar
ULC14 trade ideas
UNLTRATECH CEMENT FORMING A FALLING CHANNEL OR FALLING WEDIGELet’s analyze the chart pattern for UltraTech Cement.
The chart indicates that UltraTech Cement is currently forming a falling wedge pattern or a falling channel pattern. These patterns are considered bullish and suggest potential upward movement in the stock price.
Here’s what each of these patterns signifies:
Falling Wedge Pattern:
A falling wedge is characterized by a gradual narrowing of price range between two converging trendlines.
The upper trendline (resistance) slopes downward, while the lower trendline (support) slopes upward.
As the price oscillates within this wedge, it typically signals a potential bullish reversal.
Traders often interpret this pattern as a sign that selling pressure is diminishing, and buyers may step in.
The breakout from the upper trendline (resistance) can lead to a significant upward move.
Falling Channel Pattern:
A falling channel is similar to a falling wedge but has parallel trendlines.
The upper trendline acts as resistance, and the lower trendline acts as support.
Price tends to move within this channel, bouncing off the trendlines.
Like the falling wedge, a falling channel also suggests a potential bullish reversal.
Traders look for a breakout above the upper trendline to confirm the bullish bias.
Trading Strategy:
Based on the chart analysis, consider the following approach:
Buy on Dips: Look for buying opportunities when the stock price retraces toward the lower trendline (support).
Set stop-loss levels below the support line to manage risk.
Target potential upside moves toward the upper trendline (resistance) or beyond.
ULTRACEMCO Near Support and FIB 50% NSE:ULTRACEMCO This Guy Rejected from the Resistance Now Trade in Downtrend Channel and Near Support and FIB 50% Let's see Support Hold or Break Even Break the Support We need Weekly Closing For Downside Plan
The correction is overUltratech CMP 9875
The stock is in a strong bull trend. In my view the correction is done. Any pull back will be an opportunity to buy. In my view this counter is headed for 11260 and 12500.
ultratdech cement trading in channelultratdech cement trading in channel and flag pattern and reverse from golden zone .
Ultratech ready for a breakoutUltratech has tested many times its declining trendline in daily frame. Once the price breaks TL, it will move fast
Target 10500/11000
sl 9400
ULTRACEMCO 21-03-2024Happy 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.
Ultratech - At Crucial LevelThe 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 any form.
The setup fails if the price breaches the channel above and sustains.
All the best.
Ultratech looks bullish above 7KThere 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.
Ultracemco...ultra breakoutUltracemco is preparing for a breakout to break 52 week high.
10000,10200,10400 lvels can be seen in coming days. It seems before Feb expiry.
Amazing breakout on Weekly / Daily Timeframe - ULTRACEMCOI 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!
Wait till breakout.. and keep proper stoplossAccording 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....
UITRACEMCO Selling Point Of View 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.
UltracemcoBullish flag n pole chart pattern observed on daily candle.
We can get nice target as per chart
Ultratech Cement - Flag PatternUltraTech 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 becoming positive.
4. Fundamentally stock is doing good, highest TTM sales and profit. Overall as well, we can see cement sector picking up with new infrastructure developments / projects
"Clean Charts, Easy Charts"
Learning & Earning!!
Cheers!!
ULTRACEMCO showing divergenceBreakout on relative strength chart.
Stocks in demand zone.
FTS negative.
Sector underperforming.
Ultratech chart studyUltratech 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, going ahead modification also can be done in study as needed.
#Buy ULTRATECHStrong Breakout on Monthly Chart.
Stock moving towards higher levels.
Accumulation at Previous High and Now Breakout .
Ultratech Cement Short Term TradeThe 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
ULTRATECH giant regaining momentumits 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
ULTRATECH CEMENT HEAD AND SOULDER PATTERN Ultra tech cement
head and soulder price pattern
momentum stock
with price volume
#ULTRACEMCO #RisingWedge long needs to be cautious 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 signal for trend reversal or bearish trend continuation.
There is clear divergence of price and volume visible in charts where the rise from Jan'23 lows to until now hasn't seen increase in volume.
Bulls need to protect 6990 level on weekly closing basis to avoid activation of this pattern otherwise there is high probability of this setup getting activated and giving some pain to bulls here and 15-20% correction post breakdown can come.
Rising wedge patterns offer very low risk/high reward ratio and often they don't need confirmation of the breakdown as well as the target price which is generally placed around the bottom of the start of the trendline is achieved very fast.
This is not a buy or sell recommendation and just an educational post.
