ULTRA Cement Triangle Breakout Strategy

17 בדצמ׳ 2022

Hi Friends, As shown in the chart the stock made an triangle pattern. The pattern break their upper resistance level and returning for support at same level. An entry possible with Stoploss of near 6800 and profit target till 8605 (Maximum Width of the triangle pattern). The Reward/Risk also ratio greater than 3 which is good sign of the entry.
A cross confirmation also done with the help of RSI and same as shown in image.