ULTRATECH CEMENT LOOKING BEARISH

Ultratech Cement Has made a Shooting Star Candlestick Pattern at the Top of Weekly charts and RSI (14) also showing negative diversion.

Weekly Chart

On Daily Charts of Ultratech Cement, Rising wedge was broken and there is also an RSIĀ (14) Negative diversion.

Daily Chart

Now, Looking at the patterns made ON Weekly & Daily Chart I’m Expecting a short-term correction to the levels of 4100-3900 range.

 

MRF BULL FLAG BREAKOUT

After a decent run from 52000-70500 levels now MRF finally given the breakout.

Learning – What is Bull Flag Pattern? – How to Calculate Targets?

(Bull Flag Pattern is made when a nice linear uptrend happened in a stock and for very short term it gave the pause to the trend where Price take a breath and again started running in the continuation of the Trend & Calculation of the Target will be calculated from the start of the linear Bull run till the High of the trend which makes a “POLE” and then Pause of the trend makes a “FLAG”. Once the breakout happened (Volume should support the Breakout) Flag Distance from the start to the high will be added to the Breakout zone for the Possible upside Target)

Pole Height is 18500 Points and breakout level is around 67000. So, Here Expected Target will be 85000-85500.

Happy Investing !

MRF Daily Chart