ULTRACEMCO trade ideas
Possibility of a downside movement....Ultracemco reacted in its resistance ...in daily it formed shooting star and far away from its mean in daily chart and in 4hrs it formed dark cloud cover ....Arising a possibility of short selling
Ultra tech - Will the down fall trend continue?Ultra tech has formed bullish hammer pattern in the day chart and pitchfork analysis suggest reversal
Short below 4050
T1 - 3862
T2 - 3734
SL - 4243
Ultratech Cement downtrendThe stock has formed a down channel with lower high and lower bottom.
1. The stock has retraced to 50% fib level and came back to 23% fib level.
The stock is currently in potential reversal zone as 4092 is long term support and the last candle was a doji indicating indecision.
RSI and stochastic is confirming the downtrend.
2. One can short at current level with strict SL at 4184 for a target of 3972 and 3792.
Ultratech - downtrendUltratech cement has formed a downtrend channel in daily chart.
1. The stock is in potential reversal zone and the doji indicates indecision and could reverse from here.
2. The stock has retraced to 50% level and extended back to 23% level.
3. RSI and Stochastic indicates bearishness for near term.
4. The stock is forming lower high and lower bottom again confirming the downtrend.
One can short at this level with SL at 23% (4185) for a target of 38% (3967) and 50% (3792).
On the other hand if the stock breaks 4185 it will be bullish sign as the stock is in long term support of 4092. So strict SL is advised.
Ultratech Cement : On Daily chart stock closed above 200 SMA Ultratech Cement : On Daily chart stock closed above 200 SMA
& on verge of 50SMA break out & higher High- Higher Low formation on 1hr chart
ULTRACEMCO SHORT setup - Hunt with tRexSHORT ULTRACEMCO between 3950-3960
SL: 3980
Targets: 3900/3860
Ultratech Cement short setup - Hunt with tRexShort ULTRACEMCO at 3915
T1: 3890
T2: 3860
T3: 3845
SL: 3935
Ultratech cement triple bottomTriple bottom pattern formed
Pin bar candlestick indicates buyer interest
Targets and Stop loss mentioned
One can take future position for Oct'17
Ultracemco-3914-near 200 DMA and horizontal support of 3850-3830Stock trading near crucial support of 3850-3830 long trader can keep sl of 3830 on closing base can do 4030-60 and 4120
shor trader can sell on close below 3830
UltraTech Theta DecayDescending triangle formation
Script has reached 0.618 fibonacci level.
Volumes has contracted
Stock may not touch 4300 level by Sep'17 expiry. One may short 4300 Sep17
Ultratech BUY setupUltratech has closed above the trend line and 13wk moving avg (as there are 13 weeks in a quarter) on weekly chart indicating strength.
We can expect it to gain some momentum in the coming weeks
T1: 4500
T2: 5100
SL: 3940
ultra techstock might move either ways from here
close above 4125 (has to climb 3 moving avg. bunched together)
trade on long side for targets towards 4199/4255/4273 (sl 4083)
close below 4051
might take the stock lower
towards 4001/3963/3875 (sl 4114)
Long Ultratech cement cmp : 4170
Strict SL : 4150
Target : 4225
but will be sideways for coming 8-10 days
Ultratech Cement Long on short term basis I am buying on CMP/ Pull Back with stop of 3820 ( Close below not trade below ) for Target of 4380
CMP 4110
Risk 290 Points
Reward 290 Points
ULTRA TECHstock is in down trend
attempted a pull back
that as sold into
now at crucial level and trading sideways for the past 3 days
any break from current levels (closing) might resume the trend
one can look into the stock at break below (close) yesterday's low
for targets towards 3921/3847
with sl placed around 4159
ULTRATECH CEMENT READY TO PULL BACK.price rejection candle has formed..cluster with support area and .618 retracement...
sl--4115...Target---1st-4286,2nd-4520.
ultra tech CEMENT SHOWING FIRST SIGN OF CRACKS 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
