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The outlook for the stock of UTI Asset Management Company (AMC) is bullish. The stock surged 5.9 per cent on Tuesday. This rise has taken the share price well above the key resistance level of ₹1,075. The region between ₹1,085 and ₹1,075 will now act as a good support. Any dip below ₹1,100 from here can be limited to ₹1,075. Fresh buyers are likely to emerge at lower levels. UTI Asset Management Company’s share price can rise to ₹1,190-1,200 in the next couple of weeks. Traders can go long now at ₹1,121. Accumulate on dips at ₹1,090. Keep the stop-loss at ₹1,065 initially. Trail the stop-loss up to ₹1,135 as soon as the stock moves up to ₹1,155. Revise the stop-loss up to ₹1,160 when the price touches ₹1,175. Exit the long positions at ₹1,190.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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