UPL had been showing lower lows on weekly charts and based on the upside weekly reversal pattern, the stock has now made a lower which is higher than the previous week's. With the results announced too, the stock could see a reversal from here. It is to be noted that the stock did not meet the street's expectations in terms of results but has still performed positively.
Honestly, I would wait for the averaging. I think the markets are going to open gap down on Monday. So you might want to wait to get the best price. That is, do not place orders at market open. At market open, catalyzed by the results, you might see a gap up on UPL.
But yes, if you are a long term holder, then averaging is a good idea.
As far as the results are concerned, the numbers were good yes. But the management has said it has some concerns about a chemical that it depends on for the highest revenue in parts of Europe. The chemical was being banned in India and parts of Europe.
I mention the above point because fundamentals must be considered if you are a long term investor. My two cents. :)
Ibuuu12
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@sankatradesindia,
UPL is holding near fib level and on a good support ,RSI is fine too,
15 mins chart shows a ascending triangle which can be even seen in 1 hr
and earnings are on a bullish sentiment
lets see my views on UPL are on bullish side
The only problem i see is 200 MA on daily chart
lets see wish u luck on monday
yogvisal
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why people's giving buying this stock I dont know. pls don't full people there is inside news already reflected in price. don't trap people's
sankatradesindia
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@yogvisal, I usually don't go back and comment on ideas but I hope you see what I meant. What a move by UPL and it was a great opportunity for @Ibuuu12 to average price.
my holding price 512
now this price can be averaged?