UTI Asset Management Company Limited (UTIAMC) Stock - Complete Technical Analysis - Oct 10, 2024

UTI AMC Technical Analysis: Key Support & Resistance Levels Explained

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

UTI Asset Management Company Limited (UTIAMC) is currently trading at 1230.10, which is 8.27% below its recent 52-week high of 1341.0 reached on September 18, 2024, and 66.01% above its 52-week low of 741.0 on October 26, 2023.

Recent price movements indicate a bearish trend over the last five trading sessions, with the stock experiencing fluctuations, including a recent open of 1247.00 and a close of 1230.10. The recent high of 1259.00 and low of 1225.05 suggest significant volatility, indicative of market uncertainty. The Average True Range (ATR) shows considerable volatility, which can signal opportunities for traders looking for price reversals.

From a technical perspective, the stock is at a crucial juncture near the Ichimoku Base Line, indicating potential support around 1250.7. If the price breaks below this level, traders should watch for the next support level near 1142.77. On the other hand, a sustained move above 1250.7 could signal bullish momentum, targeting resistance around 1338.47.

Key indicators reveal mixed signals: the RSI stands at 51.47, suggesting the stock is in a neutral territory, while the MACD indicates a potential bullish crossover. However, the Stochastic RSI and CCI readings suggest overbought conditions, which may lead to a pullback.

Overall, traders should monitor price movements closely. A break above recent highs could suggest a continuation of the upward trend, while failure to hold above the Ichimoku Base Line may signal further declines. This balance of momentum and potential price levels makes UTI AMC a stock to watch closely in the upcoming sessions.