ULTRACEMCO near resistance

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Price is facing difficulty to go beyond 7250-7300 levels since December. Looking at the option chain 7200 CE for 25 jan expiry has highest open interest, trading at a premium of 140. 7350 becomes an important level from the option chain perspective as well. Overall this will tell you the behaviour of stock at various levels.

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Price closed in the resistance zone. Mainly due to the market turning green in the second half. Let's see what happens on Monday.

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Breakout is done but price is still below the important level of 7350.

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Made a high of 7334 which is lower than 7350.

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It Crossed and closed above 7350.

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Could not sustain above 7350.

Sumanyu_Aggarwal

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