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chinmaypatnaikk
Jan 8, 2022 7:02 AM

BUY UPL, target price Rs: 850 Long

UPL LTDNSE

Description

Trading rationale:

Focus on Chemical and Fertilizer stocks till budget,

UPL is best buy in agro chemical space,

Breakout from expanding channel on weekly time frame,

Bullish crossover on MACD & RSI is above 60 suggesting strong trend of the stock,

Option buyers can track 790 CE which is trading at 23.45 with a sl of 16 for targets of 32/40
Swing traders can buy @ CMP: 788 SL: 740, for targets of 850, horizon: 3 weeks.

Trade closed: target reached

Both options target achieved
CMP: 41
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