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.
Comment
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
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.