UPL CMP 772
Elliott- The entire rally post the 2020 correction is corrective in rally. The current rally is also corrective in nature. The stock has reached its previous highs and is a natural resistance. To me a fresh set of three wave correction should start from here. The correction should be deep.
Fib- the stock respecting zones drawn from top and bottom is another indication that the stock is going no where. In technical terms its moving symmetrically. Hence not good for investments.
Conclusion - this is an opportunity to exit this stock. The stock is not expanding and hence will not give any positive returns. Hence best to take a graceful exit.
Elliott- The entire rally post the 2020 correction is corrective in rally. The current rally is also corrective in nature. The stock has reached its previous highs and is a natural resistance. To me a fresh set of three wave correction should start from here. The correction should be deep.
Fib- the stock respecting zones drawn from top and bottom is another indication that the stock is going no where. In technical terms its moving symmetrically. Hence not good for investments.
Conclusion - this is an opportunity to exit this stock. The stock is not expanding and hence will not give any positive returns. Hence best to take a graceful exit.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.