UPL trade ideas
UPL S/R for 8/1/24Support and Resistance Levels:
Based on the price action, you have to identify two significant levels: the red line acting as resistance and the green line acting as support. Additionally, there have marked red and green shades to represent resistance and support zones, respectively.
Support: The green line and green shade represent support levels. These levels are where the price tends to find buying interest, preventing it from falling further. Traders can consider these levels as potential buying opportunities.
Resistance: The red line and red shade represent resistance levels. These levels are where the price tends to encounter selling pressure, preventing it from rising further. Traders can consider these levels as potential selling opportunities.
Breakouts: If the price breaks above the resistance zone (red shade) convincingly, it may indicate a bullish breakout, and the price could move higher to the next resistance level. On the other hand, if the price breaks below the support zone (green shade) convincingly, it may indicate a bearish breakout, and the price could move lower to the next support level.
Keltner Channel:
The Keltner Channel is a technical indicator that uses an exponential moving average (EMA) to create an upper and lower channel around the price action. Traders can use this channel to identify potential long and short positions.
Long Position: If the price is above the upper line of the Keltner Channel, it may indicate a potential long opportunity, as it suggests the price is trading above the average range and might continue in an upward trend.
Short Position: If the price is below the lower line of the Keltner Channel, it may indicate a potential short opportunity, as it suggests the price is trading below the average range and might continue in a downward trend.
Disclosure: I am not SEBI registered. I just wanted to let you know that the information provided here is for learning purposes only. Please consult your financial advisor before making any decisions. Tweets neither advice nor endorsement.
SWING IDEA - UPL
Stock price has taken a very good support at crucial level i.e 580.
formed a strong bullish dojo on daily timeframe.
Currently, price is trying to retrace and possibly form a 'W' pattern with a higher high.
590 is a very strong support on monthly timeframe.
formed a bullish engulfing candle on monthly timeframe.
TARGET : 657 // 696 // 760 // 848
SL : STRONG DAILY CLOSE BELOW 595
UPL IS SOON TO CRASH DUE TO THIS PATTERN...TECHNICAL INDICATORS -
SYMMETRICAL TRIANGLE BREAKDOWN -
UPL had formed a very strong symmetrical triangle (with almost 8 CONTACT POINTS) recently and broke it down recently indicating a strong downmove to come in near future
REVERSAL FROM 50D & 100D SMA -
On daily timeframe, it had recently reversed from these two sma simultaneously again indicating downside pressure
REVERSAL FROM STRONG SUPPORT-RESISTANCE LEVEL -
It had also tested and reversed from an old and time tested level which earlier had acted as support and now working as resistance level
PROFIT TARGET -
Its profit target is 544.95
FUNDAMENTAL INDICATORS -
LOWER SALES & PROFIT MARGIN COMPARED TO PEERS -
On the last quarter (jan-mar), UPL had delivered a lacklustre sales and profit margin comapred to its peers Tata Chemicals, Vishnu Chemicals, Tanfac. All its peers delivered positive growth whereas it has posted profit growth in negative (-4.06%). It is also creating downside pressure on the stock
Possible Retest of the Highs, Flat Pattern completion.UPL has been in a long time sideways move. It's likely that it's still in a correction and there is one move up, pending to complete a 3 wave corrective pattern, a Flat wave.
Looking at the bull flag formation at the lower end of the price line, a breakout to the top can see a continuation to the upside to Retest the previous Highs. The risk to reward looks fairly decent.
* This is not a trade advise, please trade at your own risk*
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UPL--BearishGap @660I am sharing the important levels of Support and Resistance. These levels play a crucial role in trading decisions, as they act as reliable markers of price movements.
------>>Support levels are price points where an asset tends to find buying interest, preventing it from falling further.
---->Resistance levels, on the other hand, are points where selling pressure typically prevents the asset from rising higher.
If price breaks the resistance, we have a chance of filling the bearish gap, soo keep in buyside until it touches the zone of resistance and bearish gap.
Take a look at these levels and trade accordingly. Recognizing and respecting these support and resistance levels can help traders make informed decisions and manage risk effectively. They serve as key reference points for technical analysis and are vital tools in successful trading strategies.
Trade safe...Thank you guys for your support
#UPL CMP 632 TGT 740+ Longterm more than 15% - BY RACHIT SETHIAUPL CMP 632
TGT 740 +++
SL 600
TIMEFRAME <6M
RR > 3
Return >15% +++
Factors: BULLISH WEDGE BREAKOUT Trend Following Rising Volume with rising Prices. Flag pattern breakout. Pennant Pattern Breakout with Bullish Candle. Retest Successful. Higher Highs & Higher Lows. Broken above RESISTANCE levels Trading at SUPPORT levels Earnings are strong. Bullish Wedge Breakout Risk Return Ratio is healthy. And Rising from Double Bottom Pattern to Flag Pattern forming. If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations. With ๐ from Rachit Sethia
UPL LTDStock Clearly make higher high & higher low formation in hourly time frame.
Today stock breakout 200dema after a long downtrend.
Price above all the DEMA
Macd Bullish
RSI Bullish
Good opportunity for long trade.
Disclaimer:- This is my personal view for education purpose only.
No Buy sell recommendations give by me.
in my buying range have started adding from 625 it is now at an important zone of a falling trendline if the selling is for a big down move in overall chemical stocks because of china opening then the below horizontal will act as good and solid targets and supports but i am a buyer now in this and will wait for price behaviour around the trend line area
UPL LTDUPL is a largest manufacturing company in India and it has big market share across the globe. Company developing its retail chain as UNIMART currently it is working.
UPL derives more than 80% of its revenue from branded products but it is gradually moving away from being a generic post-patented agrochemical company to being a company
offering differentiated and sustainable crop protection solutions and bio-solutions.
SO it is my own study points not any suggestion or tip. and as the current situation entire
chemical sector facing slow down across the low demand internationally but company giving the bounce back at its technical chart or time frame.
So we can add the stock carefully as buy on dip.
#longterm #largecap #Investment