UltraTech Cement Limited Stock Forecast
UltraTech Cement Limited stock price ended at ₹9,816.30 on Friday, after losing 1.67%.
(Updated on May 03, 2024)
The UltraTech Cement Limited stock price fell by -1.67% on the last day (Friday, 3rd May 2024) from ₹9,983.45 to ₹9,816.30. During the last trading day the stock fluctuated 2.56% from a day low at ₹9,779.35 to a day high of ₹10,030.00. The price has risen in 7 of the last 10 days and is up by 4.83% over the past 2 weeks. Volume has increased on the last day by 198 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 517 thousand shares were bought and sold for approximately ₹5.07 billion.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.64% during the next 3 months and, with a 90% probability hold a price between ₹9,071.67 and ₹9,715.29 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ULTRACEMCO.NS Signals & Forecast
The UltraTech Cement Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹9,870.36. On a fall, the stock will find some support from the long-term average at approximately ₹9,714.03. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -1.67%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for UltraTech Cement Limited stock
UltraTech Cement Limited finds support from accumulated volume at ₹9,673.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹250.65 (2.56%) between high and low. For the last week, the stock has had daily average volatility of 1.80%.
Our recommended stop-loss: ₹9,473.10 (-3.50%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (ULTRACEMCO.NS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect UltraTech Cement Limited to open at ₹9,875.22, and during the day (based on 14 day Average True Range), to move between ₹9,643.22 and ₹9,989.38, which gives a possible trading interval of +/-₹173.08 (+/-1.76%) up or down from last closing price. If UltraTech Cement Limited takes out the full calculated possible swing range there will be an estimated 3.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹9,673.15 (1.46%) than the resistance at ₹9,964.45 (1.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is UltraTech Cement Limited stock A Buy?
UltraTech Cement Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.622 Hold/Accumulate Unchanged
Predicted Opening Price for UltraTech Cement Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹9,875.22 ( 0.600%) | ₹9,816.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ULTRACEMCO.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10,125.87 | 3.15 % | |
| R2 | 10,030.12 | 2.18 % | ||
| R1 | 9,970.96 | 1.58 % | ||
| Current price: | 9,816.30 | |||
| Support | S1 | 9,779.47 | -0.375 % | |
| S2 | 9,720.31 | -0.98 % | ||
| S3 | 9,624.57 | -1.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10,001.90 | 1.89 % | |
| R2 | 9,971.85 | 1.58 % | ||
| R1 | 9,964.45 | 1.51 % | ||
| Current price | 9,816.30 | |||
| Support | S1 | 9,673.15 | -1.46% | |
| S2 | 9,463.80 | -3.59% | ||
| S3 | 9,382.75 | -4.42% |
ULTRACEMCO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 27, 2023 | Jul 27, 2023 | Jul 27, 2023 | ₹38.00 | 0.458% |
| 2 | Aug 02, 2022 | Aug 02, 2022 | Aug 02, 2022 | ₹38.00 | 0.571% |
| 3 | Aug 02, 2021 | Aug 02, 2021 | Aug 02, 2021 | ₹37.00 | 0.484% |
| 4 | May 20, 2020 | Jul 29, 2020 | Aug 13, 2020 | ₹13.00 | 0.321% |
| 5 | Apr 24, 2019 | Jul 10, 2019 | Jul 19, 2019 | ₹11.50 | 0.254% |
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