UltraTech Cement awaiting a flag breakout

  • The stock has witnessed a high-volume breakout on posting Q4 earnings and tested a new all-time high on 25th April.
  • The stock has sketched a flag pattern near all-time high of 4600 level on 2nd May 2019.

  • The major support for the stock is placed at 4100 level.
  • The recent developments in the stock suggest strong positive momentum in coming weeks once with the conformation of high-volume flag breakout.