BuyBuy for 7400 with sl below 6650.
Parallel channel is clearly visible. Warning line is now the target as it has taken support from upper median line (UML). RS is strong. RSI is indicative of bullish but contracted range.
Selling PE of 6800 and buying PE of 6500 can be à good strategy as coutner is expected to spend much of the time in parallel channel.
UCLQF trade ideas
ULTRACEMCOThis stock is been in bullish trend since OCT 2020. And retraced in last few sessions now it pulled back after taking support of 30 SMA and closed above 15 SMA which shows a bullish momentum is to be continued. Buy above 6700, SL 6350, Target 8 to 10%. For educational purpose only. Kindly contact your financial advisor before entering any trade.
ULTRATECH CEMENT "Channel Pattern" Bullish view
Reasons:-
1.Dynamic support
2.Price support
3.Channel Pattern
4.Volumes indication of weak down trend
5.Fibo levels @ 0.5%
If not an direct upmove we might see some consolidation and then the stock may shoot in upwards direction.
The EMA and the support are very crucial levels lets see if they could sustain.
ultratechcemco good trade possibility#ultratechcement showing weak signs
with nifty breaking its trendline today, market may be bearish for the next week
also, RSI is near 40.
if ultratechcement breaks trendline, you can easily short it for good profits
if it takes support at the support zone, then go for a long position.
market is supreme and we should always respect the trend
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ULTRATECHCEMCO in consolidationStock has been in short range consolidation since 2 days and formed a ascending triangle. It could break either side but as the long term trend is bullish and heavy volumes are seen today during end 15 mins of session today, probability is higher to be broken upside.
6485 i.e. the ATH will be crucial to be breached and sustained to see a upmove.
6400 i.e. low of the short range can act as good support.