Stock name: UTI Asset Management Company Ltd.
Pattern: Resistance breakout and retest
Time frame: Weekly
Observation:
The stock, listed in October 2020, saw a steady rise until September 2021 before reversing into a downward trend. It began improving only after June 2023, eventually surpassing its previous high in September 2024. Following the breakout, the stock retested the breakout level and rebounded strongly with good volume by late October 2024. According to technical analysis, sustaining the rebound momentum may lead to further upward movement. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator. Top of FormBottom of FormBottom of Form
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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
Stock name: Aditya Birla Sun Life AMC Ltd.
Pattern: Resistance breakout and retest
Time frame: Weekly
Observation:
The stock debuted on the NSE in 2021 and experienced a downward trend until March 2023. It then recovered to its listing levels by July 2024, forming a resistance line where it lingered before breaking out in August. Despite the breakout, the stock showed low upward momentum and underwent a retest. By mid-October 2024, it rebounded strongly with significant trading volume, boosting its upward momentum. If the current momentum holds, technical analysis suggests the stock may continue to rise further. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.
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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
