When a stock is in a long-term range, it means that the price has been trading between a support level and a resistance level for a long period, typically months and even years, without any decisive breakout or breakdown in either direction.
A key Characteristic of a long-term range is that the stock repeatedly tests the resistance level ( upper level of range) and support level ( lower level of range) but doesn’t break either side.
Ultratech Cement is the Birla Group Stock that is breaking out of a long-term range
After several repeated tries, Ultratech Cement’s Stock is showing signs of a range breakout that it has stayed in for the past 1 year. The breakout level for the stock is Rs. 12,080, and the Stock is currently trading near its breakout level at Rs. 12,114
About the Company
UltraTech Cement Limited is India’s largest cement manufacturer and a flagship company of the Aditya Birla Group. Established in 1983, it became part of the Aditya Birla Group in 2004 following the acquisition of L&T Cement
UltraTech offers a wide range of products, including Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), Portland Slag Cement (PSC), white cement, wall care putty, and ready-mix concrete
Written By Abhishek Das
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