UTIAMC breaks out.

5 Jul 2023

Today it has breached out its trend line after consolidating in ascending tringle pattern. Trade can be initiated now and can be exit by putting 1:1 reward ratio.

buy near @ 811 and 812
Targets -1 @855

Stoploss -780

We will update more post market

5 Jul 2023

Catatan

A breakout has occurred in this stock and I promptly shared the update during the trading session.

Now the decision to trade with 1:1 risk reward ratio completely depends one's individual risk appetite. But do respect the Stop Loss.

But if you are someone who believes in long positional trade this stock is for you. As the AMC industry currently experiencing a Boom we can maximize our profit by investing in it.

However it is possible for the stock to decline by 5-10% going further, if it does we can add more quantity. considering that it has already corrected by 50% earlier while market was recovering. So, it falls under one of the undervalued companies.