UltraTech Cement Limited is the largest manufacturer of cement in India and ranks among the world’s leading cement makers. UltraTech’s vision is to be ‘The Leader’ in Building Solutions. The company has a consolidated capacity of 102.75 million tonnes per annum (MTPA) of grey cement. UltraTech has a strong presence in international markets such as Bangladesh, UAE, Sri Lanka and Bahrain. It operates 20 integrated units, 26 grinding units, seven bulk terminals and one clinkerisation plant for grey cement, one integrated white cement unit, two wallcare putty plants and over 100 RMC plants

2020-01-24-Stock-Detail-Chart

SHORT TERM PERSPECTIVE

Company Ultra Tech Cement Ltd.
Recommendation Accumulate (Rs.4550-Rs.4570)
CMP Rs.4642.75
Stop Loss (SL) Rs.4350
Target Price Rs.4850-Rs.5000
Time Horizon 2-4 Weeks

 

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Intermediate and long term trend is up in this stock. After a sharp up move stock is trading in a range from last 8 days. Stock has given a breakout on daily as well as on weekly chart. Increasing in volume and all indicators are indicating that stock has more potential to move higher from current level. A bullish RSI and MACD buy signal has emerged on the Daily chart and positive diversion from oscillator indicate that stock can move higher from current level so one can initiate accumulation between Rs. 4550 – Rs. 4570 with a stop loss of Rs. 4350 on (closing basis) for the target price of  Rs.4850 – Rs. 5000. Time frame should be 2-4 weeks.

Source: Capitaline Database, EWAL Research


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