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Ultratech cement has formed Bullish Inverted head and Shoulder pattern

Discussion in 'Chart of the Week' started by chethankrc, Aug 12, 2014.

  1. chethankrc

    chethankrc Active Member

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    Hi All,

    Ultratech cement has formed Bullish Inverted head and Shoulder pattern.

    Stock Can be bought above 2600 Rs.
    Target : 2800 Rs
    Stop loss : 2450 Rs

    Regards,
    Chethan
     

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    chethankrc, Aug 12, 2014
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  2. shabbir

    shabbir Administrator Staff Member

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    Spot on and I see it mini breakout above resistance of 2600. 2650, 2750 and 2850 can be good targets soon.
     
    shabbir, Aug 13, 2014
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  3. chethankrc

    chethankrc Active Member

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    Good reversal pattern and today also it closed above resistance i.e above 2600.
    If it trades above this level for one or two sessions tomorrow. We can take a call.
     
    chethankrc, Aug 13, 2014
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  4. yankeedin

    yankeedin Responder

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    yes, good chart pattern noted by you, Chetan.
     
    yankeedin, Aug 13, 2014
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  5. chethankrc

    chethankrc Active Member

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    Thanks Dinesh..
     
    chethankrc, Aug 13, 2014
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  6. hirenrachh

    hirenrachh Member

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    Great....
     
    hirenrachh, Aug 14, 2014
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