UltraTech Cement - Retest of head and shoulder pattern
Currently, UltraTech Cement is trading over its strong support zone, which previously served as a resistance area.
We can see that the price has come back to test the head and shoulders pattern's breakout & we can see Selling Volume is getting Exhausted.
On the chart, I have drawn a red trendline. Planning a buy trade is possible if trendline breakouts occur.
for volume analysis "Wave Volume Divergence" Indicator has been used.
My analysis is solely for study purpose; I am not a Sebi registered individual.
If my analysis proves useful to you, please like it and follow me on TradingView for more analysis like this.
We can see that the price has come back to test the head and shoulders pattern's breakout & we can see Selling Volume is getting Exhausted.
On the chart, I have drawn a red trendline. Planning a buy trade is possible if trendline breakouts occur.
for volume analysis "Wave Volume Divergence" Indicator has been used.
My analysis is solely for study purpose; I am not a Sebi registered individual.
If my analysis proves useful to you, please like it and follow me on TradingView for more analysis like this.
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