OUR RECOMMENDATION
| CMP# | 4190.4 |
| Idea | BUY |
| Buy Range | 4100 – 4180 |
| Target | 4500 – 4600 |
| StopLoss* | 3860 |
| Duration | 20 – 25 Trading Sessions |
| Potential Return^ | 7 – 10% |
| CMP# | Idea | Buy Range | Target | StopLoss* | Duration | Potential Return^ |
| 4190.4 | BUY | 4100 – 4180 | 4500 – 4600 | 3860 | 20 – 25 Trading Sessions | 7 – 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 Code | ULTRACEMCO |
| Sectoral Index | Nifty Commodities |
| 52W High | 4493.65 |
| 52W Low | 3260.45 |
| Face Value | 10 |
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.
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.
