Stock of the day : UltraTech Cement Ltd For Target Rs. 240 - Religare Broking
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UltraTech Cement Ltd
* After a steady up move from last more than 3 months, ULTRATECH is now showing some sign of trend reversal.
* It has witnessed a breakdown from the brief range and has closed below its short term moving average.
* Following price action and weakness in cement pack, suggests bearish tone to continue.
* We thus recommend creating shorts through the Put option.
BUY UltraTech Cement Ltd CMP 153.95; Range 153-155; SL 20; Target 240
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SEBI Registration number is INZ000174330
