UTI AMC - Ifs and Buts !! for NSE:UTIAMC by TheChartereds

trendanalysis chartpattern utiamc swingtrading investing

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.:)

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

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This did give a boost to our analysis :

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15% in already! 🚀🚀🚀🚀

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Current Price Action :

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Change in Perspective:

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Matter of time in my opinion

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

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BLASTED!!

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The price is sustaining above the zone:

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Weekly close is still pending:

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Common !! we need a thousand!

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Will we get a new 52W High???

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WE ARE AT ONE THOUSAND (ALMOST)

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