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Domestic stock indices snapped a four-day winning streak on Wednesday, thanks to selling pressure in index heavyweights. The BSE Sensex dropped 346.89 points, or 0.55 per cent, to settle at 62,622.24. The NSE Nifty fell 99.45 points, or 0.53 per cent, to settle at 18,534.40.
After taking a pause in the previous month, Ultratech Cement has resumed its gradual up-move. Amid a series of ascending tops and bottoms, important support is placed near Rs 7,500. A sustenance above Rs 7,750 would mean that the stock has more room on upside. In that case, a further up move till Rs 8,200 would be possible.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today.)
Also read: Jhunjhunwala-promoted Aptech, Shree Cement, two other stocks to turn ex-dividend today
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