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Rocky_Chow

Uttam Sugar is about to confirm a symmetrical triangle BO

Long
UTTAM SUGAR MILLS (NSE:UTTAMSUGAR)  
Rocky_Chow Updated   
NSE:UTTAMSUGAR   UTTAM SUGAR MILLS
Trend Analysis Chart Patterns
3
0
trendanalysis chartpattern
Intra day breakout needs to be confirmed by closing at 288 or above. The width of the triangle is 143 which makes the target around 429 and the max time to reach this would be around 7th September 2022... company has given stellar Q4 results as well... when trading in sugar stocks for a short term one needs to be vary of Government policies which are a big risk in the sector like arbitrary exports ban, higher than expected minimum cane prices so one needs to keep their ears firmly on ground as a lot can happen by September...
Comment:
Breakout failed.. last date to achieve a successful BO would be 2nd August as per pattern data ..till then putting it in watchlist
Comment:
Uttam Sugar Bulls being brave again and attempting breakout .. closing for the day is keenly awaited
Comment:
If we are to breakout today then revised target becomes 425
Trade closed manually
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