In the previous session, market had a corrective move with a negative bias throughout the day. The Nifty index opened on a positive note but soon slipped into negative territory. No recovery was seen in the market today. The Index formed a strong Bearish candle on the chart and closed with a net loss of 99.60 points. Market looks volatile in the coming sessions, hence a cautious approach is advisable for the next trading day.

 Look at the below research report of ‘Stocks to Buy for Tuesday, February 21,2022‘ before the market opens.

UltraTech Cement Ltd

In the last trading day, stock formed a strong bullish candle on the daily chart and closed with a net gain of 1.77%. As per the chart reading, a long entry signal was triggered in the previous day’s session. Stock is currently placed at the edge of the upside resistance zone. In the last session, stock retested the same level with positive momentum but didn’t close above the break out zone. The Relative Strength Index (RSI) on the daily chart is 64.

In a Nutshell, the trend for ULTRACEMCO looks to be positive now. Break above 7492 levels which could take prices toward 7850 or higher levels. This outlook is valid as long as 7212 remains protected on downside.

Check More Analysis on ULTRACEMCO at: UltraTech Cement Ltd