Ultratech cement share price forecast 2014

Ultratech cement share price forecast 2014

Ultratech cement stock daily chart

Ultratech cement stock daily chart analysis

Ultratech cement stock on last trading session closed at 2027 with loss. On daily chart, stock price trend is up but momentum is bearish and stock is going through deep correction phase. In last 1-month time period stock lost almost 250-rupee gains and approaching major averages to test them.

From short-term view, Ultratech cement stock has supports at 1980 and 1885 while on upside 2080 and 2185 are strong resistances. Daily chart indicators patterns are bearish.

Traders here watch 1980-rupee level for stock if stock gives closing below it then that will be shorting opportunity for derivatives traders. Nevertheless, if reversal happens above it then it will be best buying opportunity for those who missed last run.

Ultratech cement stock weekly chart

Ultratech cement stock weekly chart analysis

Ultratech cement stock this week showing losses. This will be third losing week for Ultratech cement stock. In these, 3 week tumbled from levels of 2260 rupee to 2012 rupee. Weekly chart stock price trend and momentum both are bullish. Stock above 1900 rupee will remain buy for medium terms. On weekly chart, 1900 rupee and then 1550 are strong support zones. On upside 2325 and 2710 are strong resistances as well as target zones for next 6 to 12 months period. Weekly chart indicators patterns are mixed suggesting correction and consolidation phase.

Medium term traders and investors above 1900 rupee keep accumulation strategy and expect targets of 2325 rupee in next 6 to 8 months period. If stock gives closing below 1900 rupee and sustain below it then that will be exit signal.

Ultratech cement stock performance chart

Ultratech cement stock monthly chart analysis

Ultratech cement stock in last 6 month has given only 4% return to investors while major indices rallied by 5-6%. Therefore, underperformance is started and for month of April, stock is in deep red. From long-term view 1800-1900 zone is major support area for stock. Above it keep buy and accumulate view. 2670 is 12-month target level and 3435 is 3 to 5 years target level.

1150-1250 was best buy zone, which was last seen in 2012 while 300-400 rupee was undervalued level and which was last seen in 2008 crash. Ultratech cement stock is fundamentally good company but by valuation in May view 1200-1500 is best zone enter long.

Ultratech cement company description

UltraTech Cement Limited is engaged in the business of cement and cement related products. The Company provides a range of products that cater to all the needs from laying the foundation to delivering the final touches. The Company manufactures and provides ordinary Portland and Portland Pozzolana Cement, Ready-Mix Concrete, and White Cement. White cement is manufactured under Birla White brand, ready mix concretes under UltraTech Concrete brand and new age building products under UltraTech Building Products Division. The retail outlets of the Company operate under UltraTech Building Solutions. The Company is also an exporter of cement clinker spanning export markets in countries across the Indian Ocean, Africa, Europe and the Middle East. The Company conducts business activity in United Arab Emirates, Sri Lanka, Bahrain, and Bangladesh.

Ultratech cement stock fundamental ratios
Range    -
52 week1,402.35 – 2,280.00
Open    -
Vol.0.00
Mkt cap557.53B
P/E    -
Div/yield9.00/0.44
EPS-
Shares274.24M
Beta-
Inst. own-

Updated: May 1, 2014 — 1:24 PM

The Author

Pramod Baviskar

Professional Financial Market Trader and Adviser Working since 2007 Developer of Trade-master™,Future-master™,Option-master™ and Now Signal-Pro™(Professional Trading system for Amibroker software) Working and Developing Auto-trading robots for various Financial Market. Follow Me on : Facebook-Twitter-Google-YouTube-Pinterest

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