Ultratech Cement - Bullish breakout after build up near resistanNote: This is for educational purpose only.
There is a bullish breakout with ascending triangle formation. Ultra high volume confirms the momentum of the bullish breakout. Moreover, there was a build up near resistance which is a sign of bullish strength. RSI above 60 adds to the conviction of bullish momentum.
UCLQF trade ideas
ULTRACEMO - S below 3790 TGT 3750ULTRACEMO - S below 3790 TGT 3750
The stock has given a breakdown from an upward trending channel.
RSI is below 40 and represents a strong downtrend.
TT2 Tool is BEARISH.
VD shows net selling in the last 5 hours.
Once the prices break 3790 level, the next support is 3750, 3710 & 3680.
KEEP AN EYE!!
***this is my personal view. Please take advice from your financial advisor before investing.