UltraTech Cement – Wave 4 Triangle Breakout, Wave 5 in Motion

UltraTech Cement completed a higher-degree Wave 4 triangle between 12,078 and 10,047. The breakout from the E-wave low (10,047) kicked off Wave 5.

• The first breakout attempt above 12,339 was followed by a clean retest of support, keeping the structure intact.
  
• Price is now carving out the internal subwaves of Wave 5.
  
• Strict support / stop loss sits at 12,078 – below this, the bullish thesis fails.
  
• RSI shows momentum rising but not yet at extreme levels – consistent with an unfolding Wave 5.
  

Summary:
A triangle in Wave 4 has given way to an impulsive Wave 5. As long as 12,078 holds, UltraTech Cement remains biased upward with higher targets open.
The chart will be updated as price action evolves.

Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.