vanathi
Long

UPL - At the support of trendline!

NSE:UPL   UPL LIMITED
326 6 16
UPL             Limited has broken 1. downward channel 2- Flag pattern in daily chart indicating bullishness. It is at the support of upward trend line now. Buy above 719 with the stoploss of 715. Targets are 730, 735, 742, 749, 755 and 762.
Trade active: @ 720 on 3/27/17
Comment: Target 1 reached on 3/28/17
Comment: Target 2 and 3 reached on 4/3/17
kindly correct me if I am wrong. As per my seeing the chart SL was hit after 1st Target.
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vanathi DINESH1961
@DINESH1961, Daily candle's closing price reached 714.5 which is -5 below the stoploss. Thank you for observing my idea with clarity.
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DINESH1961 vanathi
@vanathi, I have recently started on trading view and find your analysis real good and provide great learning experience. Tks
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vanathi DINESH1961
@DINESH1961, Thank you for the support.
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Please understand the Zone , its resistance Zone , where the sellers are waiting to sell their stock , that's the risen the candlestick wick is appearing again and again, right form 17 Jan its trying to cross up to 10 Feb , then it pulled back from there , its a Price Zone where the large institutional seller are waiting to sell left out stocks , so that stock can enter in correction Zone and Cool down for a while before the start of New investment's , always think what will be Institutional seller will be thinking , He will hold the price form falling because he know if the price is holding at certain area the amateurs will start investing thinking it will move further higher high , that to at particular Zone where the previous history is repeatedly reversed , So always take note of such places where the price have reversed in the historical charts and wait for reversal sign in case you would like to trade for Short selling , or wait for correction of the stock , don't expect you will survive fall from cliff of mountain
Hope you will understand information I'm trying to say but surly I'm not here to judge your analysis
Cheers
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vanathi shiv2798
@shiv2798, Yes I understand. Thank you for sharing your view.
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