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CA Omkar Bhutada - SEBI Reg IA

30th Apr · SEBI-Registered Analyst

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

#StockInNews#WatchOutFor#Today’sTradingSetup#TechnicalViews#FundamentalViews
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