🏗️ UltraTech Cement – Bearish RSI Divergence Near Resistance

🔹 Price Action UltraTech Cement is trading at ₹12,693, very close to its all-time high zone (~₹13,000). While the long-term trend remains intact inside the rising channel, momentum indicators are flashing caution signals. 🔹 Technical View Support Levels: ₹12,030 / ₹11,535 Resistance Level: ₹13,000–₹13,100 (channel top) Trend Channel: Price continues to move within the rising channel, but faces selling pressure at the upper band. RSI: Shows a bearish divergence – price is making higher highs while RSI is making lower highs, indicating momentum loss. Volume: No significant breakout volumes, suggesting exhaustion near resistance. 🔹 Strength & Weakness ✅ Long-term uptrend still intact within the rising channel. ⚠️ Bearish RSI divergence warns of possible pullback/correction. ⚠️ The stock appears overstretched near ₹13,000 – a key hurdle. 🔹 Outlook A failure to break above ₹13,000–₹13,100 may trigger a correction towards ₹12,030–₹11,535 supports. Sustaining above ₹13,100 with strong volumes is required for continuation of the uptrend. 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.