Universal Cable
Universal Cable is finding support at 98 and resistance at 115. On Daily chart, Universal Cable trading above 21 and below 55 days exponential moving average which is at 95 and 98 respectively while RSI and MACD too showing positive divergence which indicates that upper side seems certain in it. Universal Cable is likely to touch 61% and 78% projection level which stood at 122 and 132 respectively. Three consecutive close + weekly close above 115 will see nonstop rally in Universal Cable Universal Cable till 132+ mark in days to come.
Traders don’t go for aggressive or positional selling at all because trend looks positive and we expect rally to remain continue till 132+++mark in coming weeks. For positional trade, stop loss seeing below 98 on closing basis which in unlikely to breach in near terms.
Trading Recommendation
Buy Universal Cable above 111 for the initial upside target of 132++ mark with stop loss below 98 on closing basis
More will update soon!!
