ULCL1 trade ideas
Utracemco - Can go down 250 pointsUltraCemco has hit Weekly resistance levels. It might go down 250 points before gaining volume for upward trend. This is just my view
ULTRATECHCEMCO in consolidationStock has been in short range consolidation since 2 days and formed a ascending triangle. It could break either side but as the long term trend is bullish and heavy volumes are seen today during end 15 mins of session today, probability is higher to be broken upside.
6485 i.e. the ATH will be crucial to be breached and sustained to see a upmove.
6400 i.e. low of the short range can act as good support.
📊 #Ultratech cement #ultracemco 🎯 #nifty #bankniftyNSE:ULTRACEMCO
Short only if find reversal. Reversal Zone already Mentioned on chart.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
MegaPhone PatternWhat is Megaphone Pattern?
Megaphone pattern is a pattern which consists of minimum two higher highs and two lower lows. The pattern is generally formed when the market is highly volatile in nature and traders are not confident about the market direction. Normally this pattern is visible when the market is at its top or bottom. The greater the time frame is better the pattern will work. However, traders love this pattern when it is formed in a daily or weekly time frame.
Key Points :-
* Megaphone pattern is a pattern that consists of minimum of higher highs and two lower lows.
*The pattern is generally formed when the market is highly volatile in nature and traders are not confident about the market direction.
*Megaphone pattern is known to give multiple trading opportunities to the trader.
*This pattern also can be traded when it fails but is necessary to identify the failure perfectly.
*Sometimes only pattern is not enough to take best trading decisions you may need multiple indicators to identify better entry and exit
points.
How to identify the Megaphone pattern ??
* Generally, Megaphone Pattern consists 5 different swings. But the swing has to have minimum two higher highs and two lower lows. A trend line is drawn by connecting point 1 and point 3 while point 2 and 4 are also joined together to draw a line.
These two lines create a shape which looks like a megaphone or inverted symmetric triangle.
Below are a few characteristics of Megaphone trading pattern:
*Volume plays an important role when it comes to the recognition of this pattern.
*In the Megaphone Top, volume usually peaks along with prices.
*An increase in the volume, on the day of the pattern confirmation is a strong indicator.
Theoretical ways to trade the Megaphone pattern:
Megaphone pattern is known to give multiple trading opportunities to the trader.
A trader can trade Megaphone pattern as
Breakout Trades
Swings trades (while making higher highs and lower lows)
When the Price fails to give a breakout.
Breakout Trades:
When the price breaks the trend line after making the 5th swings and closes outside the pattern boundary, a breakout is confirmed. Breakout may happen in positive or in a negative direction. Depending upon the market condition and the position of the pattern in the chart, bullish and bearish breakout happens.
After a prolonged bull run, when this pattern is formed at the top and the price closes below its lower trend line, then it acts as a trend reversal pattern.
But, if the price closes above the higher trend line and makes new higher highs in the chart then it will be termed as a Continuation Pattern. Traders can take a trade when price closes outside the pattern boundary (in whichever direction) to get the best possible confirmation of the breakout.
For educational Purpose Mega phone Pattern Under construction stocks are below-
* V Guard Industries
*Solar Industries Limited.
*Blue Star Limited.
*Rattan India .
Kindly Let us Know if you have any Questions.
Thank You
Ultratech Cement | Weak Below 5280The stock looks good to short below 5280 for the targets of 5080 and 4820 until 5525 is intact on the upside.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
SHORT at 5327 if bearish candle with volumn breaks support.Enter: 5327
Target : 4892.
Stop loss: 5716
ULTRACEMCO - KEY BREAKOUT LEVELS FOR 14 JAN 2021Since I have received many queries, traders interested in Intraday Equity Cash & Futures calls/strategies, you can direct message me for further details. Minimum 1:2 risk/reward ratio.
Elliot wave Analysis # Bullish SequenceBuy ULTRATECH CEMENT, target price Rs 6300
Confirmation to Buy Ultratech @ 5035 to 5200 odd levels
Invalidation level @ 4870
Positional Target: 6000, 6300
Expected return - 21.5% in next 1 to 12 weeks
Disclaimer - Any of my investment or trades I share on my blog are provided for educational purposes only and do not constitute specific financial, trading or investment advice. The blog is intended to provide educational information only and does not attempt to give you advice that relates to your specific circumstances. ULTRA TEC NSE:ULTRACEMCO
analysis of ultracemco..may be a higher momentum.ultracemco is making a head and shoulder pattern..short after neck line...it may be a higher momentum..
Trade setup for Ultratech Cement for 06 Jan 2020The predicted buy & sell zones plotted are an approximation and for accurate levels use the indicator (tradershedge) which updates the levels on real time and also triggers an alert.
You can make entry decision once you get a confirmation at the respective marked zones and opt for the next successive zones as expected targets in the direction of the trend.
Happy Trading !
UltraTechCemet-Elliott Wave Expanding Triangle Breakout: WeeklyUltraTech Cement (Elliott Wave Expanding Triangle - Possible Breakout), Weekly chart:
A successful breakout need either one extraordinary big candle with large volume or at least 3 candles of regular size with normal-regular volume.
Here as chart is weekly one, so breakout need 3 WEEKLY candles of regular size with normal-regular volume; raised above the resistance line of the triangle.
Further, to confirm the breakout .....
(1) volume of 3 WEEKLY candles' those raised above the resistance line of the triangle should either be increasing; OR
(2) combined volume of at least 3 WEEKLY candles' those raised above the resistance line, should be large comparing to previous 5 to 7 candles.
OR, alternatively at least one candle raised above the resistance line of the triangle should be extraordinary big with large volume.
Ultra Cement: Chart set up and strategy UltraCem
The stock has given a breakout on charts and potential target for the set up can be 5600 / 6100 in weeks to come
Given the set up,
alternatively one may consider the following strategy
Sell Ultracem
31 Dec expiry
4800 Put option
in the range of 50-60
Lot size 200
Max profit potential Rs 10000/- to 12000/-
Take care & safe trading!!!
Ultracemco - A nice setupThe chart had a nice setup today. The breakout that happened is having a long tail.
Long-tail resembles.
1. High Demand
2. Shakeout of weak holders.
3. A Bullish candle.
4. Easy SL below the long tail.
Entry should be taken on completion of the breakout candle.
SL should be below the breakout candle (as it has a long tail and weak holders were already shaken out.
Target depends on your risk appetite.
Please lookout for this kind of setup and trade accordingly.
*For Educational Purpose Only*
ULTRACEMCO, 180POINTS IN 1.5HOURS (TRADE ANALYSIS)ULTRACEMCO was notified at 11:45AM today that it had strong resistance around 5210-5220 area and post this it can give good move. It has trading at 5202 that time.
Soon enough it crossed resistance zone and gave us very good rally of 180 points to 5400.
This was complimented by the fact that all the cements stocks were running today.
On other trades we had SL in SRF & profits in BALKRISIND, IRCTC (both late bloomer).
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators. If you check all previous charts, you will understand how beautiful price action trading is and how one can become independent trader by following some simple rules.
Reach out if you wish to learn powerful technical analysis based on simple price action.
Thanks
Piyush Gupta
Learn & Earn
