UPL - TREND REVERSAL INDICATION - SWINGTRADE

Oct 15, 2020

The stock is now at the base of the channel. A rejection candle is formed in the daily timeframe indicating a bullish trend reversal from here.
The hammer candle is a clear indication trendreversal. Confirmation of trend reversal is when it crosses the previous high. Level given below :-

• Buy above 515.55
  
  Note:
  
  • Avoid the stock if a big gap up or gap down is seen
    
  • Enter after the breakout happens and not before it
    
  • Do not chase the market, i.e., do not get involved in late entries
    
  • Only enter with strict stop-loss and target
    
  • This is not a recommendation and is for educational purposes only.
    
  • always follow risk-reward and quantity management for the 100% of the times
    
  • The above mentioned idea may not work, so beware of the risk you are taking
    
  
  
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