Ultratech cement- the big becoming bigger

the markup target has been derived from this point and figure chart..
This is a classic case of stepping stone reaccumualtion
there is one prior reaccumualtion which needs a special study as a case
will be updating below

Disclaimer.. Not invested, Not an investing / trading recommendation
Comment: for reference of reaccumualtion, this is a good blog post on the subject
Comment: this is a atypical reaccumulation,.. with a SOW in the range..

i encountered a similar case before tagging it here...
Comment: this might also look like a distribution, as the upper resistance level was tested multiple times , but recently after such tests, there is a lower low being made and each lows are appearing in good volume....

A close watch must be kept...
if the current resistance is not broken upwards then there is a high chance of retes of support, we will have to watch the vols on the support retest again...

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