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


Buy Range4100 – 4180
Target4500 – 4600
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#


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


  • 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


  • 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


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.


The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).


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.

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