Bearish Cypher is about to complete on ULTRACEMCO. Wait for pattern to complete for entry.
Trade:
Short Entry: 3860
Target: 3550
Stop: 4090
Happy Trading!!!
Ultratech cement-Price taking support nicely at 233 DEMA. Can it reach the previous gap zone of 3798 which is also a Fib .786 retr of sep high. Stops can be placed around 3630. Time duration 10 days
Ultratech has lost 25% of its value in the past two months due to the demonetization impact. I am long on this stock since fundamentally it is a good stock but in the short medium term it will see some selling pressure. With a P/B of 4, these current dips presents good buying opportunities.
Technically note the strong support at 3100 and 2600 levels for this...
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
Target2- 3350
SL-3080
It is been observed on Daily chart that the price action breaks below another support levels indicating high pressure of selling and Sellers control over price action. It shall further move down
Target 1: 3040
Target 2: 3000
Stoploss: 3125
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.
Ultratech Cements after its long up trend journey broke at 3921.00 and stock seems struggling for upward movement but has been unable to breakout upward and trading downward since last week and retraced to 38% of fibo level and approaching to crucial 50% level 3410.00, traders may enter short in this stock for target of 3410 to its near term support, alternatively...
