Investors have paid higher prices over time to buy UltraTech Cement Ltd. and the stock is in a rising trend channel in the medium long term. Rising trends indicate that the company experiences positive development and that buy interest among investors is increasing. It also gave positive signal from the inverse head and shoulders formation at the break up through the resistance at 6969
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Further rise to
9291 or more is signaled. The stock has
broken a resistance level in the short term and
given a positive signal for the short-term
trading range. There is no resistance in the
price chart and further rise is indicated. In
case of a negative reaction, the stock has
support at approximately 7300 rupee. The
stock is overall assessed as technically
positive for the medium long term.
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