Analysis Criteria Used:
1. Please find the Chart Analysis done for the Intraday Trade Idea levels for 8th June, 2023
2. The analysis for the Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3. Always Plan your...
Howdy traders,
The market is bullish on ultra-tech cement, but the market may retest a little. The market needs to go up to 7972 t o get retested.
If the market does not go up to 7972 to retest then a good bullish rally can be seen in the market.
This includes multi timeframe analysis but I'm posting 2H TF chart for the sake of Candlesticks visibility.
Can give a decent momentum if it consolidates near trendline reason for saying this is the stock has been rallying from 25th may so it needs consolidation.
Please do support me if you like my analysis, and check out my previous ideas as well.
Analysis Criteria Used:
1. Please find the Chart Analysis done for the Swing Trade Idea levels for 22nd May, 2023 and its upcoming week
2. The analysis for the Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3....
Price is clearly making higher high and higher lows on hourly timeframe, long can be initiated aroud 7500 area with a stoploss of 7400 for swing trade, with a target of - 7700 , 7900
Ultratech Cements looks good after breaking a falling resistance trendline on daily chart and gives a close above so we can consider it is breakout of triangle resistance trendline and after a breakout of falling resistance trendline we can go long in it for the target of 7780 taking stop loss of 7550 below a daily candle close.
TARGET AND STOP LOSS
𝑵𝑶𝑻𝑬-...
There is an on going chart pattern in the stock Ultracemco i.e., ultra cements
This is on a daily timeframe. The projected target is of ~28% out of which 11% is already achieved. One can go long now as well with a strict SL of current swing low.
Monthly / Weekly & Daily ascending triangle pattern
Trying to come out from supply zone
Continuous Hh & Hl
But volume not support if it then
7440 / 7500 / 7575 ENTRY (daily base closing)
7780 / 7900 / 8000 EXIT
It may take support here as the stock is in uptrend first expectation is that it will continue the trend. Let it take support and then let it give low risk entry point then enter. If it is not coming then let it go..
Inverted Head & Shoulder in Ultratech Cement (SL on 15 min. candle close)
Buy above 7299
SL 6005
Target : 7968, 8657
CMP 7215 @ March 03, 2023
Chart by CA Savita Rehlan
