#ULTRATECHCEM trading 6873 formed bearish pattern,
Today trading our retracement level,
we can sell below 6850 and tgt for 6800
and positional tgt 6750
follow SL 6950
In Short term Ultracemco has been falling on profit booking and got support around 7390-7430 and resumed its Long term uptrend but somehow its failed to cross its previous high and met with heavy selling pressure Today at higher levels. On Monday, 16th Aug, if it fails to resume its long term uptrend, and if again start falling, then Short sell Ultracemco below...
Stock is at interesting place.
Currently near Trendline Support.
Staying below 6137 weakness will come.
Although near support but avoid going long. Till we get some confirmation.
The stair steps pattern overview
The stair steps pattern forms along with the trend .It shows an uptrend where the price rises and falls abruptly. The graph reminds the stairs, thus a name of the pattern
In the uptrend, you may notice long consecutive bullish candles. Then, the price adjustment takes place and the cycle starts all over again. The price...
