ULTRACEMCO CMP 9600
If ultracemco break 9705
Then the key level is 10029 to 10565
After big correction buying opportunity good in ultracemco
Stoploss 9500
Is Ultratech heading down after touching all time high. ?
This stock has be consolidating from past 2-3 months and now finally gave the breakdown with good volume , But wait is it sustainable.?
10000 now looks like strong resistance for this stock and looks like it will further go downwards till 9316 and 9040 as per the fibs retracement level . But over all...
ULTRATECH CEMENT LTD
Key highlights: 💡⚡
✅On 3 HOUR Time Frame Stock Showing Breakdown of Rising Wedge Pattern .
✅Strong bearish Candlestick Form on this timeframe.
✅It can give movement up to the Breakdown target of 9326-.
✅Can Go short in this stock by placing a stop loss above 10082+.
1-hour chart, the stock is trading mostly in the orange channel towards the resistance line R.
After crossing at around 10025, the target will be 10795 extending to 10853
Consider the Stop Loss (SL) below the bottom line of orange channel
Ultratech broke the daily, weekly, monthly resistance and showing strong upward movement, will move towards 10000.
Technically strong and awaited result at Jan,2024
5% to 10% Upside Potential
NSE:ULTRACEMCO Formed Inside Candle Pattern
Inside Candle Formed on Weekly Chart ..
Either Side Breakdown or Breakout is Possible
the Range is So Important
if Breaks Upside Then Possible Targets Are Marked
if Breaks Downside Then Possible Targets Are Marked
STOCK IS IN up trend. following 20 ma on weekly TF. Also retesting its ATH. it is a great place to buy this stock. If it makes green candle here. buy after confirmation only
Below 20 MA will be slow. In this trade sl will be very small. Target upside is looking gud.
ULTRACEMCO - Has a Very tight Squeeze and if there is any BO to the upside we could expect for an Continuation of the rally. This can give a move of 4-6% in a couple of week - IF THERE IS A CLEAR BO WITH HIGH VOLUME'S
The largest and most prosperous cement company of India- Ultratech Cement is expected to have more upside of 30-40% from current levels as the weekly wave counts suggest.
To put it in very simple words without using too much of Elliot wave jargon, the next leg up is unfolding now which can be projected going somewhere closer to 9200.(the current wave structure...
ultratech is moving in a Rising parallel channel and also retesting the symmetrical triangle
huge buying is coming in it
buy @ 8370-8380
SL - 8045
target - 9075
Risk reward ratio - 1:2
time - 2 months
