Utkarsh Small Finance Bank - Bounce Off Support
Utkarsh Small Finance Bank currently trading at its 52 Week Low. 45.47 seems to look like a very important support zone and the price has made multiple attempts to breach this level but has failed to do so in the past.
The Average Directional Index has started to move up with the DI- turning down too.
The stock also seems to be making a dragonfly doji on the daily time frame on what seems to be a bottom.
On the weekly time frame the stock seems to have formed a Head & Shoulders Pattern with the price currently near the base.
The downside movement momentarily seems to be paused and this stock could be gearing for some good upside in the coming months.
Disclaimer: This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making any investment decisions.
The Average Directional Index has started to move up with the DI- turning down too.
The stock also seems to be making a dragonfly doji on the daily time frame on what seems to be a bottom.
On the weekly time frame the stock seems to have formed a Head & Shoulders Pattern with the price currently near the base.
The downside movement momentarily seems to be paused and this stock could be gearing for some good upside in the coming months.
Disclaimer: This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making any investment decisions.
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