ULTRATECH CEMENT : Inverted Head & Shoulder Pattern on hourly chart

ULTRATECH CEMENT Hourly Chart: Inverted Head  & Shoulder Pattern Unfolds

Apr 8, 2015

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• We have Inverted Head & Shoulder Pattern on the hourly chart of Ultratech cement.
• Price have broken through the neckline with increase in volume.
• However RSI is overbought, hence a pullback to the neckline can be expected, before the rally resumes to the upside.
• 3145,  3213: These levels can be seen on the upside in the near term 
• Stop loss can be placed at  2880, 2850.