ULTRATECH FUT BEARISH VIEW at closing price on 6th Jan 2025Here I am sharing my views on Ultratech Cement Futures Chart.
A) There is a STRONG SUPPLY ZONE at 11,800 - 11,900.
B) There is Mild to Moderate Demand Zone at 11,400 -11,300.
C) RSI with SMA: In today's trading session RSI crossed it's 50 mark level and turned bearish
- RSI is now below it's SMA
Ultratech futures chartUltratech Cement started its new impulse from 20 June 2022 and its complete its 4th wave 26 oct 2023 .
Now its in 5th wave in daily time frame.
When we check 5th wave in
1 hour it complete its 2 wave and now it near to end of 3rd wave so it will continue its 4th wave in 1 hr time frame that near to
ULTRACEMCO Fut near crucial supportCement sector has been in the buzz since last one year with a strong rally each expiry. ULTRACEMCO has also seen a good move recently and has been travelling through a upward sloping channel. Today at 6755 its at support zone of channel and could be bought for a tgt of 7015 positionally in near term
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Summarizing what the indicators are suggesting.
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
A representation of what an asset is worth today and what the market thinks it will be worth in the future.
Frequently Asked Questions
The current price of ULTRATECH CEMENT FUTURES is 12,273.00 INR — it has risen 0.52% in the past 24 hours. Watch ULTRATECH CEMENT FUTURES price in more detail on the chart.
The volume of ULTRATECH CEMENT FUTURES is 681.25 K. Track more important stats on the ULTRATECH CEMENT FUTURES chart.
The nearest expiration date for ULTRATECH CEMENT FUTURES is May 29, 2025.
Traders prefer to sell futures contracts when they've already made money on the investment, but still have plenty of time left before the expiration date. Thus, many consider it a good option to sell ULTRATECH CEMENT FUTURES before May 29, 2025.
Open interest is the number of contracts held by traders in active positions — they're not closed or expired. For ULTRATECH CEMENT FUTURES this number is 3.29 M. You can use it to track a prevailing market trend and adjust your own strategy: declining open interest for ULTRATECH CEMENT FUTURES shows that traders are closing their positions, which means a weakening trend.
Buying or selling futures contracts depends on many factors: season, underlying commodity, your own trading strategy. So mostly it's up to you, but if you look for some certain calculations to take into account, you can study technical analysis for ULTRATECH CEMENT FUTURES. Today its technical rating is buy, but remember that market conditions change all the time, so it's always crucial to do your own research. See more of ULTRATECH CEMENT FUTURES technicals for a more comprehensive analysis.