ULTRACEMCO is expected to test 3250 levels in next few weeks.
Preferred Trading Instrument
Equity Traders can consider creating long position with 3250 Target. Derivative traders can Opt of Buying Futures at Current Levels and Selling 3100 Call option in JAN Contract.
Why to buy this?
The underlying primary trend is bullish, resumed its intermediate bullish trend as well. Surge in volume seen at bottom and GAP remain unfilled indicates the strength of bulls. On 14 January, it manages to head above 2900 levels with high volume. Sector Trend is also positive in recent days.
Risk Vs Reward
Equity Traders can Invest Up to 20% of their trading capital in ULTRACEMCO. The Chances of achieving the target is 60% and it has 1 (Target ):1(Stoploss) Risk Reward ratio i.e Currently Trading at 2900, Target 350 Points (3250) and SL 350 Points (2550).