ULTRACEMCO - ELLIOT WAVE 5 IN MAKING
Hi All,
This idea is about Ultratech Cement
Mkt Cap - 3L Cr
ROE - 12%
ROCE 15.3%
P/BV - 5.56
MktCap/Sales - 4.7
FCF - 2k Cr
Technicals
Price action being published is on a 1 hour TF. As can be seen by the pattern, Elliot waves are in motion. Wave 1 was an impulsive wave followed by Correction wave (Wave 2).
Ideally Wave 2 should correct to 50-60% as per Elliot theory & that is what happened during Wave 2 formation.
Wave 4 corrected again by 30% and point 4 above point 1 which all points to the validation of Elliot theory.
Wave 5 is about to commence which is as per the theory strongest impulse wave.
Cement Sector as a whole is doing well due to boost in infra sector.
Happy Trading,
Thanks,
Stock-n-Shine
This idea is about Ultratech Cement
Mkt Cap - 3L Cr
ROE - 12%
ROCE 15.3%
P/BV - 5.56
MktCap/Sales - 4.7
FCF - 2k Cr
Technicals
Price action being published is on a 1 hour TF. As can be seen by the pattern, Elliot waves are in motion. Wave 1 was an impulsive wave followed by Correction wave (Wave 2).
Ideally Wave 2 should correct to 50-60% as per Elliot theory & that is what happened during Wave 2 formation.
Wave 4 corrected again by 30% and point 4 above point 1 which all points to the validation of Elliot theory.
Wave 5 is about to commence which is as per the theory strongest impulse wave.
Cement Sector as a whole is doing well due to boost in infra sector.
Happy Trading,
Thanks,
Stock-n-Shine
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