Long

Updated

UTI AMC - Ifs and Buts !!

UTI AMC is currently displaying a symmetric triangle formation on its weekly chart. Recently, it formed a double bottom pattern on the weekly timeframe, which was followed by a breakout. The stock is currently encountering a minor resistance level. Interestingly, the resistance trend channel and the 50% Fibonacci retracement level align closely, making it a strong barrier for further upward momentum.

Given the circumstances, if UTI AMC consolidates within this resistance zone before continuing its upward trajectory, it has the potential for significant momentum.

Disclaimer: Please note that we are not registered advisors and the views expressed here are solely personal opinions. We strongly recommend consulting with your financial advisors before making any investment decisions. We like everybody else, have the right to be wrong.:)

Note

As expected, 50% rejection came strong. Now the price action becomes important. A retest and continuation of the zone are crucial.

Note

This did give a boost to our analysis :
moneycontrol.com/news/business/stocks/amc-stocks-surge-up-to-13-as-sebi-defers-rationalisaton-of-ter-10881111.html

Note

15% in already! 🚀🚀🚀🚀

Note

Current Price Action :

Note

Change in Perspective:

Note

Matter of time in my opinion

Note

Q3 results are good IMO. The stock is well positioned.

Note

BLASTED!!

Note

The price is sustaining above the zone:

Note

Weekly close is still pending:

Note

Common !! we need a thousand!

Note

Will we get a new 52W High???

Note

WE ARE AT ONE THOUSAND (ALMOST)

Note

The fall is on account of stock going Ex-Dividend of Rs. 70

Note

TheChartereds

🎯 You can now access our personal charts for all Nifty 500 companies📈

👉 Visit nas.io/TradeWithTc to learn Price Action with real life case studies.

#BeYourOwnAnalyst

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

TheChartereds

🎯 You can now access our personal charts for all Nifty 500 companies📈

👉 Visit nas.io/TradeWithTc to learn Price Action with real life case studies.

#BeYourOwnAnalyst

Also on: