On the weekly timeframe, Ultratech Cement has efficiently given a breakout above its all-time excessive, crossing the essential resistance zone of 12,130–12,150. This breakout indicators sturdy bullish energy.
Moreover, the transferring averages have began trending upward, additional confirming a bullish development and reinforcing constructive worth motion.
From a momentum perspective, the RSI has damaged out of its consolidation part, indicating a strengthening momentum and suggesting extra upside potential.
Trying forward, so long as the inventory sustains above 11,515 — which is aligned with the 9-period EMA — the inventory is well-positioned to maneuver towards the subsequent potential targets of 12,750 and 13,000 within the coming weeks
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