Ultratech is an a long term uptrend . So investors need not worry . But for us traders there is an opportunity make money on the short side .
This is a text book perfect wave .
The Elliott Channel
1. The move that started in Dec/2016 at 3060 ended at 4531. It was a five wave impulse move . Elliott channel technique says connect end of wave 1 and 2 and draw...
stock had a great run since jan.
showing signs of deeper crack cmg
this is the big down bar since jan
yesterday was a trend day stock might chop around or may even try a small bounce
as long as yesterday's candle is not violated
one can look into this stock
for target towards 4225/4150
On daily chart its been observed that Ultratech Cement is trading at support level. Gap up open and closing on positive side on this level make it suitable for bounce back to higher levels. Lets see !
Target1 - 3300
After sustained selling pressure from 3800+ in last few days, formed a Bullish Harami today. RSI rebounded from around 20 levels. 3100 has been a strong support since last few months.
Can be longed for an immediate target to 3600 in next few sessions.