OUR RECOMMENDATION
| CMP# | 4049.15 |
| Idea | BUY |
| Buy Range | 3975 – 4050 |
| Target | 4200 – 4350 |
| StopLoss* | 3780 |
| Duration | 25 – 30 Trading Sessions |
| Potential Return^ | 4 – 7% |
| CMP# | Idea | Buy Range | Target | StopLoss* | Duration | Potential Return^ |
| 4049.15 | BUY | 3975 – 4050 | 4200 – 4350 | 3780 | 25 – 30 Trading Sessions | 4 – 7% |
# CMP on Mar 11, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 4125
^ The returns are calculated based on CMP#
COMPANY OVERVIEW
UltraTech Cement Limited, together with it’s subsidiaries, manufactures and sells cements 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 its it’s products to UAE, Bahrain, Bangladesh and Sri Lanka. Ultratech Cement consolidated net profit increased to Rs 393.67 crore from Rs 376.82 crore in QOQ basis.
| Stock Data | |
| NSE Code | ULTRACEMCO |
| Sector | Nifty Commodities |
| 52W High | 4493.65 |
| 52W Low | 3260.45 |
| Face Value | 10 |
TECHNICAL OBSERVATIONS (WEEKLY)
- The stock made a ‘Double Bottom’ pattern on the weekly chart.
- On a weekly chart, the stock has been trading with it’s upward rising trend line since the last 4 weeks and it seems that it could continue with its ongoing move.
TECHNICAL OBSERVATIONS (DAILY)
- The price has taken support at 3370 levels in Mid February and since then the price is sharply bouncing upwards.
- Price is near to the Upper Bollinger Band.
- Momentum indicators like the 14-week RSI are in a rising mode which is a positive signal.
