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#Fundamental and #chart analysis of leader of #cement sector #ULTRATECH #cement #Limited which has delivered good profit growth of 21.9% CAGR over last 5 years 
#Chart analysis of #ULTRATECH CMP 6903
✅Reason 1
➡️#ULTRATECH was in downtrend with fall from 8269
➡️This fall had formed very strong and textbook Head & Shoulder Pattern which is getting negated with breakout of equally strong inverse Head & Shoulder Pattern.
✅Reason 1
➡️#ULTRATECH was in downtrend with fall from 8269
➡️This fall had formed very strong and textbook Head & Shoulder Pattern which is getting negated with breakout of equally strong inverse Head & Shoulder Pattern.
✅Reason 2
➡️Downtrend of #ULTRATECH with fall from 8269 was over after hitting 61.8% Fibonacci retracement level
➡️Stock has regained price above 23.6% level and next is ATH level
✅Reason 3
➡️Stock is above all moving averages
➡️Downtrend of #ULTRATECH with fall from 8269 was over after hitting 61.8% Fibonacci retracement level
➡️Stock has regained price above 23.6% level and next is ATH level
✅Reason 3
➡️Stock is above all moving averages
