ULCL1 trade ideas
UltraTech forming a corrective channel. Breakout Soon!NSE:ULTRACEMCO is trapped in a corrective pattern and will test Rs5300 levels.
The price reversal box is in the chart,
This can result in rejection from resistance and then a breakout from the channel.
Ultratech cement for 26th AprilAt important support zone. Buy on bullish patterns (Bull flag and pole/falling wedge, etc.)
Ultratech Cement is on its Important Support.If Ultratech Cement give Breakdown of 6000/- Support,we can see the Levels of 5600/- Easily.
OR
If it Bounce Back from 6000/- Support, we can see the Levels of 6500/- Easily.
SL your Risk.
ULTRATECH CEMENTULTRATECH CEMENT is trading at an all-time high and failure to break 6973 Strong RESISTANCE level 3 times and is an indication of the strong BEARISH trend in upcoming days.
Fundamentally strong stock to hold for the long term, but as per the P/E ratio it's a bit expensive (below 24) is a discount price.
SO TECHNICALLY AND FUNDAMENTALLY STRONG BEARISH TREND,
6973 RESISTANCE
6643 SUPPORT 1
6553 SUPPORT 2
[Positional]Ultracemco Long.....Above 6950 (IF BO Happened Without Retest)
Weak Below 6000
or on retest
Add near 6600-6400
Target 7500-8000-10000
[positional] Ultracemco Long.....[other up trending stocks]UP trending stock under consolidation
buy above 6960
target of 7523-7920
SL below 6000
good volume in uptrend
and currently under consolidation phase with decreasing volumes
Other stocks are
1.sail
2.tatasteel
3.tataconsumer
4.tatachem
5.upl
6.Dr. Lalpathlab
ULtratech Cement View Ultratech Cement :
Resistance Breakout nd Channel Breakout
Long above 6970 with a SL 6890
Ultratechcement View - Weak IntradayUltratech Cement :
Ascending Triangle breakdown
Short Below 6699 with a SL 6720
