Reuters are reporting that shares of UltraTech Cement Ltd have fallen by as much as 7% to 3380 rupees. The lowest figure since 8 July.
Stock's 20-day exponential moving average (EMA) has cut below its 50-day EMA.
Stock price has cut below its 200-day EMA at 3520 rupees, also seen negative for stock.
Trend Intensity indicator rises to 15 points from 12 November level of 13, suggesting start of a new downtrend.
Read the article online at: https://www.worldcement.com/indian-subcontinent/15112016/ultratech-cement-hits-four-month-low/
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