Weekly Pick 25th November 2024

ULTRATRCHCEM LTP 11,387.15

Technical Outlook

• ULTRATECHCEM on the weekly chart is trading in a higher high higher low formation within the rising channel pattern.
• In terms of candlesticks prices have formed a bullish engulfing pattern near the lower band of the rising channel pattern.
• Momentum Indicator RSI (14) is hovering above 50 levels most of the time and recently has formed a bullish hidden divergence on the weekly time frame.
• Stock has been trading above 10, 21, and 50 EMA on the weekly chart maintaining the bullish momentum.

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