Buy ULTRATECH CEMENT MAY 3600 Call at Rs 160
STOP LOSS: Rs 120
TARGET: Rs 225
LOT SIZE: 200
-- Long rollover is seen in the Ultratech Cement Futures’ where we have seen 84 per cent (Prov) rollover to the May series with healthy rollover cost of 0.6 per cent
-- The stock price has broken out from the symmetrical triangle on the daily chart by closing above the resistance level of 3,500 with higher volumes.
-- The short-term trend of the stock is positive where the stock is trading above its 5 and 20-day Simple Moving Average (SMA)
-- RSI and MFI Oscillators have formed positive divergence
Disclaimer: Nandish Shah is a Technical & Derivative Analyst at HDFC securities. Views are personal.