Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on telegram
Share on email

Ultratech Cement Technical Analysis #40: Buy | Target Rs 4500 | Arijit Banerjee

OUR RECOMMENDATION

CMP#4190.4
IdeaBUY
Buy Range4100 – 4180
Target4500 – 4600
StopLoss*3860
Duration20 – 25 Trading Sessions
Potential Return^7 – 10%
CMP#IdeaBuy RangeTargetStopLoss*DurationPotential Return^
4190.4BUY4100 – 41804500 – 4600386020 – 25 Trading Sessions7 – 10%

# CMP on Apr 05, 2019
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 4345.
^ The returns are calculated based on CMP#

COMPANY OVERVIEW

UltraTech Cement Limited, together with its subsidiaries, manufactures and sells cement and cement related products e.g. Portland cement, portland blast furnace slag cement, white cement, ready mix concrete, jointing mortars etc. This Aditya Birla group company export it’s it’s products to UAE, Bahrain, Bangladesh and Sri Lanka. In the year end march 2019, Ultratech Cement net income was improved by 17.28% to Rs.37,379 crore and consolidated net profit increased to Rs 2434.72 crore from Rs 2222.17 crore in YOY basis.

Stock Data
NSE CodeULTRACEMCO
Sectoral IndexNifty Commodities
52W High4493.65
52W Low3260.45
Face Value10
Relative Performance_Ultratech Cement vs Nifty Commodity Index

TECHNICAL OBSERVATIONS (WEEKLY)

  • The stock had formed well defined Descending Triangle Pattern over the last 7 months and a breakout above the upper side shows bullishness.
  • Volumes have gone up along with price rise.
Ultratech Cement Weekly Chart 1
Ultratech Cement Weekly Chart 1

TECHNICAL OBSERVATIONS (DAILY)

  • Higher Tops and Higher Bottoms at Daily Charts.
  • Indicators like MACD turned bullish on Daily Charts which indicate buying momentum and probable further rise.
Ultratech Cement Daily Chart 1
Ultratech Cement Daily Chart 1

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

Enjoy this recommendation?
Share with your friends

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on telegram
Share on email

Your return could be much more

PROFITABLE!

access our premium recommendations

Equity Advice

3 Months / 6 Months / 1 Year
7990 for 3 months*
  • * referred calendar months here
    e.g. Jan 20, 2020 — April 20, 2020

  • average 5-6 trades/ month
  • indian stocks + major index
  • short to medium term trade
  • ...and other exclusive benefits
Ultra

Subscribe With Us

Get free Trading tips and Investment advice

We respect your privacy.

You cannot copy content of this page