Currency Grow (CA & SEBI Reg IA Omkar Bhutada) · 30th Apr
On Uttam Sugar, you’ve marked a cup-like rounding structure
UTTAMSUGAR
What’s Good Here
1. Rounded Recovery
Clear shift from downtrend → accumulation → higher lows
Right side of cup is stronger than left decline → bullish sign
2. Strong Momentum into Resistance
Recent candles show impulsive move upward
Buyers are clearly in control in the short term
3. Multi-Touch Resistance
₹275 has been tested multiple times historically
→ Once it breaks, move can be fast due to supply exhaustion
Where It’s Slightly Weak (Important)
This is where you need to be sharp:
❗ 1. Cup is Not Very Clean
Structure is a bit noisy and uneven
Multiple sharp spikes inside the base
Not a smooth institutional accumulation like GESHIP
👉 Means:
More retail participation
Slightly lower reliability
❗ 2. No Clear Volume Climax (from chart view)
Breakout should ideally come with strong expansion confirmation
Otherwise risk of fake breakout
❗ 3. Resistance is Very Close
You’re not early here
You are at decision point, not accumulation phase