Ultratech Cement Share : Buy or Sell Technical Analysis

UltraTech Cement Limited is in a rising trend channel in the medium long term. This shows that investors over time have bought the stock at higher prices and indicates good development for the company. It also gave positive signal from the inverse head and shoulders formation at the break up through the resistance at 6970. Further rise to 9295 or more is signaled. 

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The stock has broken a resistance level in the short term and given a positive signal for the short-term trading range. The stock has broken up through resistance at rupee 7150. This predicts a further rise. Positive volume balance, with high volume on days of rising prices and low volume on days of falling prices, strengthens the stock in the short term. The stock is overall assessed as technically positive for the medium long term.