Thread by @HorizonLtd2

#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 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

✅Reason 4
➡️Breakout of textbook inverse Head & Shoulder Pattern with neckline at 6800
➡️Target of pattern is 8400 which could trigger breakout of ATH and will take this stock to further very higher levels

➡️Big sellers are going to get trapped if breakout of inverse H&S is going to sustain and this stock is going to march towards new ATH in medium term
➡️#ULTRATECH is a leader of #cement sector. So, if this stock will sustain its breakout then rest cement stocks will also follow

#Fundamental analysis of #ULTRATECH
➡️#ULTRATECH is a leader of #cement sector
➡️Neat & Clean Promoters
➡️P/E 29.29
➡️ROCE 14.3 %
➡️ROE 15.2%
➡️Dividend Yield 0.55 %
➡️FII's have increased stake from 13.12% to 14.06% in September Quarter

#macro Indicators
➡️September CPI rose to 7.4%, it should begin to fall October onwards with food inflation normalizes and fall in commodity prices
➡️Monsoon has been 6.5% above long period average
➡️Rural demand outlook remains promising in
FY23 given good rains

#Highlights of Quarter 2

New #product Launches

#social #development

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