Expecting an upmove in UltraTech Cement Ltd.The stock NSE:ULTRACEMCO is taking resistance at a tight range of 6970 - 7080 ( indicated in the white line and a thin violet rectangular bar). Which earlier acted as support seen in the graph.
Here I have taken a weekly time frame of the stock where a reverse head and shoulder pattern could be observed in the chart( indicated in a violet arc). Which is considered bullish momentum.
Looking for the stock to pass the 7100 level along with volume action
keeping an immediate target at 8000
stop loss below the 6800 level if the stock retraces after crossing the 7100 level.
*this analysis is for educational purpose and not any kind of stock recommendation
