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 RSI (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.

 

“IS CRUDE HEADING FOR $75 ?”

Technical Analysis is all about reading the Patterns Correctly.

Clear Patterns gives decent money.

Let’s see what crude has to tell us !

Weekly chart РAfter a downtrend, Crude has made inverse Head & Shoulder Pattern at the bottom. Crude also completed its 4th wave inside the parallel channel and now started its 5th wave upwards. One more important thing to learn here is that Price is making Higher highs (HH) and Higher lows(HL) showing signal of a bullish Trend.

Monthly chart – If you see monthly time frame, There is a descending triangle formation on which crude has started its 5th wave upwards.

So after looking weekly and monthly chart Crude is giving bull signal for a short term Target of 56-58$ and above 58$ one can look for a target of $70-$75.

Crude Monthly Chart
Crude Weekly Chart

EURINR LOOKING BULLISH

EURINR

4 Hourly Chart – After a decent downtrend, Price has made a Inverse Head & Shoulder Pattern. This gives signal for reversal of the trend.

Learning – How t0 Calculate Target for Inverse H&S Pattern?

(Target calculation will be done by the perpendicular distance between the head and the neckline and can be added to the neckline once breakout done)

Daily Chart – Price has made the rounding TOP Pattern. It has also started 3rd bull wave. It’s clearly indicating the start of the bull run.

Short term Targets- 73-75-77

EURINR 4 HOURLY CHART
EURINR Daily Chart

 

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