Target Price: Rs 10,700
Stop Loss: Rs 10,350
UltraTech Cement has established a robust resistance zone between 10,000 and 10,200 daily, witnessing active buying and driving the stock upward. Recent positive price movements indicate buyer dominance, breaking through a triple bottom formation. Following a strong bullish candle, the stock has resumed its positive trajectory, suggesting
further potential for upward movement.
On the Momentum front, RSI has given a breakout of the falling trend line conforming to the price action.
(Drumil Vithlani, Technical Research Analyst, Bonanza Portfolio)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
