UltraTech Cement is currently in a sideways trend after a mild bullish phase, trading below its 50-day moving average and showing neutral to weak bearish signals on weekly and monthly charts. The stock is oversold with RSI near 37 and MACD is negative, indicating pressure on the price. Key support to watch is near ₹11,950, while resistance is at ₹12,300. The technical outlook suggests cautious trading with a need for strong volume breakout to confirm reversal. Recent financial performance shows steady revenue growth, but rising costs and missed volume targets present near-term risks.UltraTech Cement is currently showing a correction phase with a decline from ₹12,066–₹12,095 to close at ₹12,019. The stock is trading below its 20-day, 50-day, and 100-day EMAs, indicating weak momentum. RSI at 37.5 indicates oversold conditions, and MACD remains in deep negative territory. Resistance is expected around ₹12,250–₹12,300, with strong support near ₹11,950–₹12,000. Further correction is likely if the weakness continues without any fundamental catalyst.
BUY : ULTRACEMCO28OCT2512000CE( ULTRACEMCO ) [132215]
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