UltraTech Cement - Retest of head and shoulder pattern

٥ يناير ٢٠٢٣

Currently, UltraTech Cement is trading over its strong support zone, which previously served as a resistance area.
We can see that the price has come back to test the head and shoulders pattern's breakout & we can see Selling Volume is getting Exhausted.
On the chart, I have drawn a red trendline. Planning a buy trade is possible if trendline breakouts occur.
for volume analysis "Wave Volume Divergence" Indicator has been used.

My analysis is solely for study purpose; I am not a Sebi registered individual.
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