UPLPP1.E1 trade ideas
Double top formation in UPL and rejection from necklineUPL seems to have formed double top pattern and now it has come to retracement level of neckline after breakout and then giving clear rejection for the upside move.
Also, we are seeing a clear reversal in the uptrend in the daily timeframe. so possibly can test previous swing high of 650
UPL Ltd: Strong upmove once touches this area.There is a Monthly Demand Zone which gave a very strong upmove.
It has a Monthly 20EMA support and price is coming in a clear downtrend Channel. Once starts reacting from this area we can take an entry with Sector Support.
After then, only blood bath can stop the price
UPLNSE:UPL
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All the contents over here are for educational purposes only and are not investment advice or recommendations
offered to any person(s) with respect to the purchase or sale of the stocks / futures and options.
You are also requested to apply your prudence and consult your advisers in case you choose to act on
any such content available as WE claims no responsibilities for any of your actions or any outcome of
such action
UPL 1DNSE:UPL
Please note that we are not a SEBI Registered Investor Adviser/PMS/ Broking House.
All the contents over here are for educational purposes only and are not investment advice or recommendations
offered to any person(s) with respect to the purchase or sale of the stocks / futures and options.
You are also requested to apply your prudence and consult your advisers in case you choose to act on
any such content available as WE claims no responsibilities for any of your actions or any outcome of
such action
UPL-Short trade opportunity -Futures trade Hi Traders,
As per the above chart , UPL is currently at good support zone, if the price breaks the support zone in downward direction and closes below Rs.693/- (in 1 hour chart) you can take the short trade, stop loss is based on your risk appetite and Target 1 is Rs.640 to 630 and Target 2 is Rs.600 to 590/-.
1 Lot of UPL futures is 1300 shares and margin required for this trade is around Rs.2,35,000/-.
This analysis is for short term trade (i.e. Positional trading) and not for intraday.
Note : This is not a financial advice and trade at your own risk.
Thank you.
Enjoy the trading.
