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balaji_damo
19 de Oct. de 2017 10:50

Ultratech Cement downtrend Corto

ULTRATECH CEMENTNSE

Descripción

The stock has formed a down channel with lower high and lower bottom.

1. The stock has retraced to 50% fib level and came back to 23% fib level.
The stock is currently in potential reversal zone as 4092 is long term support and the last candle was a doji indicating indecision.
RSI and stochastic is confirming the downtrend.

2. One can short at current level with strict SL at 4184 for a target of 3972 and 3792.

Operación activa

Operación cerrada manualmente

The stock has moved down to 4020 and hit TSL at 4035 on 19 Oct 2017.
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