Trading_hawk

UPL | Trade Setup 28-07-2021

NSE:UPL   UPL LTD
NSE:UPL

Trade Setup for 28-07-2021

1) For the buy trade
Go Long above 816. Targets are marked on the chart.

2) For the sell trade
Be cautious. Once it break the trendline let it trade below it. For safe sell/short side trade better to short below 801. And targets are marked on the chart.

Considering current volatility , I have given small targets. better to keep on booking your profit.

All these levels will work as entry point as well as support and resistance on particular day as the price action works neat these levels.

For Example, let't say it open gap down tomorrow 807. Then let it go down and take support from the trendline. And if it breaks the 812 then that level will be the entry point for the buy trade and next target will be 816. But if it faces the resistance from 812 and goes down then wait for it to break down the trendline.
Example 2, let's say it open gap up tomorrow in range of 814 the let it go down to take support from 812 and if it takes the support then it will be a buy trade. Target will be 816 and so on as per mentioned on chart. But if it faces resistance from 816 then it will be the sell trade below 816 and target will be 812 and till the trendline. And once it breaks the trendline then below targets will be activated.

But it is advisable to take safe trade as per mentioned level.
Buy trade above 816 and sell trade below 801. Let it get move in between 801 and 816.

Do comment if my ideas are helping you to understand trend, levels and price action.

Let me know if you have any doubt or suggestion.