UCLQF trade ideas
Shorting opportunity found in UntraTech Cement A nice Shoring opportunity is found in UltarTech Cement. Risky traders can trade in June 2020 contracts in Futures and Risk averse can trade using Put Options.
Pattern - ABC Correction.
Can I trade in cash segment also - YES with a strict Stop loss.
Ultratech cement AT BOUltracemco formed Ascending triangle in Day candle.., A strong Buy signal. It is strong abv 3675 for Intraday as well as positional.
Ultratech Cement - LongThe above script has evidence Head and Shoulder Pattern along with Double top Pattern and the script was evidence with huge down fall.
Now the script was in the consolidation phase and witnessed a double bottom near 3271.
Hence the with good volume the script moved above 3680 is opportunity to buy Long for the below target.
Target 1 - 3900
Target 2 - 4100
SL - 3270
Disclaimer: Kindly do your own analysis before executing the trade
#LETSTALKABOUTMARKETS - ULTRATECHUltratech cement has performed really well in the past week bouncing from it's demand zone. There can be a breakout from the current zone and it can head towards the next supply zone of 3850 which was a great support zone in the past. This support zone will act like a resistance zone now. My positive outlook is validated by:
1. Bollinger Bands - On the daily charts, it has given a close just below the upper band. Bollinger Bands tell us about the volatility of the stock, and right now the upper band is pointing upwards which tells us that the rally might continue.
2. Support and Resistance - Ultratech bounced from it's support zone of 3250 this week with a great closing on friday. Even on the weekly chart, it has bounced from it's support zone. It has closed near it's resistance zone for the third time which indicates there is potential in this stock in near future.
3. RSI - RSI is a trend based indicator which tells us how strong the trend of the stock is. It ranges between 30-70 usually, which tells us where the trend is. Right now it is trading near 57 which tells us that the trend is also in our favor.
Ultratech is a very volatile stock with huge swing movements, therefore people should be careful when entering. Keep a strict stoploss of 3480 for a target of 3850.
*This is my opinion and i am not sebi registered*
ULTRACEMCO, Breakout, Pullback & ContinuationULTRACEMCO has given good bullish closing on Friday. It broke from yellow TL few weeks back but never made any good movement. Now it has done pullback to TL and bouncing back. 3650-3674 is resistance area for this stock as highlighted in blue, if it sustain above 3670 - 3675, then can give good move on Tuesday.
If market turns out strong on Tuesday then it will one of the high probable trade.
Price action is very simple to understand and main focus is price/patterns. Keep your chart clean and free from indicators, follow same process daily to get good results.
If you wish to learn simple price action trading process (strategy seekers kindly excuse), kindly reach out.
Request your support by liking/commenting on ideas submitted.
Ultratech CemChange of reject at 3625 and consolidate before further move. If it breakout then it will head to cover the gap till 3780
#ultracem
#Symmetrical Triangle pattern
How to trade a Descending Flag Pattern ?Ultratech Cement is continuing a Descending Flag Pattern and is currently inside the flag.
Now, How to trade a Descending Flag Pattern?
Descending Flag Pattern is a bearish continuation pattern so we will have to wait for the stock to break out in our direction for the trade to be active.
Trade will be active inside the blue rectangle, as we will have a break out from our pattern and we can short the stock from there onwards.
Our Stop Loss will be the red trend line. Due to volatility in the markets, we may have a false breakout and the stock might rush back into the flag so we won't get stuck in the trade with a tight Stop Loss.
Our First target will be around our last low and then we will have to trail our profits as there's uncertainty due to volatility. We will ride along as long as the market wants us to.
"The punchline here is to Wait for a Break Out"
Till then,
Stay Safe & Trade Safely.
UltraTech Cement IdeaCup and handle breakout above 3666. Strong Resistance around 3666.
If it moves above, can be bought with SL below 3666. keep a watch around 3770-3870 levels.
Bearish Gartley PRZ around 3770-3870. View negated above 3880.
Bearish Harmonic Pattern - Anti Gartley UltraCemCoBearish Harmonic Pattern - Anti Gartley UltraCemCo
ULTRACEMCO, Learn & Earn (Cup with Handle)ULTRACEMCO has formed Cup with handle pattern has given closing around neck line. If trades above 3573, can be good for long.
I am sharing these charts to explain price action concepts as well as possible trade opportunities on Monday and I am fully aware about Global sentiments being highly negative today (i.e. Friday 1-Mat 2020).
If things change by Friday and market is supporting stock trend, then good move is possible. Either ways, keep on watch and wait for level.
Reach out for more details.
Grasim : Capturing Wave CIn a daily it’s going for the 5th wave & on 60 mins it seems we are in Wave 3 or we can label it as ABC & might try to capture Wave C rally on the downside
LongOne can wait for drop reversal or strong close on 15 Minits for entering long , and look to book near forecast , it will be positional that means , there will be some disco dance in the price movement , if you are not comfortable in between the trend , Take the exit
Good luck
