UPL showing a breakout from symmetrical triangle pattern
Updated
UPL is showing a good breakout from symmetrical triangle pattern after consolidating for more than 3 months. Even the volume was good on the breakout day i.e. 8th Jan. It could reach 600 levels from the current market price. There is a small resistance near 520-525 level and further it might face resistance near 600 level. Let's see how this pan out.
Disclaimer: - These views are for educational purpose only and not a recommendation.
Disclaimer: - These views are for educational purpose only and not a recommendation.
Note
Risk averse trader can book some profit in this trades since UPL has given a good move in few days and is near its resistance level. It might consolidate at 550 level before moving further.Trade closed: target reached
UPL achieved it's target of 600
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