Ultratech cement has given a breakout from its ascending triangle formation on 12th July 21. Although the volume isnt good enough, one can enter while the previous resistance is tested. 1:3 reward can be the target as it is an all time high breakout. stop loss under the break out candle (6840). Target 7890.
Sharing this for educational purpose only
All the key levels are mentioned in chart with Stop-loss and Targets
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
1) TRADING NEAR THE ALL-TIME HIGH.
2) HIGHER TIMEFRAME TREND IS UP.
3) WE FOLLOW THE TREND.
4) PULLBACK/DIP TO REJECTION HAPPENED RECENTLY ON A STRONG KEY LEVEL.
5) ALSO TOOK SUPPORT FROM ICHIMOKU CLOUD ON H4 TIMEFRAME.
TRAIL TO COST WHEN R:R - 1:1
KINDLY TRADE AT YOUR OWN RISK.
GOOD LUCK ^^