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...
Breakdown from the trendline expecting small correction only if support break else we can expect move upside Disclaimer: Please consult your financial advisor, Investment/Trading in the securities market is subject to market risk, We are not responsible for your profit or loss
The stock has given a wonderful BreakOut from expanding channel pattern with a very good volume, It has huge potential to go up. Good stock to hold for a long term. Best of luck traders/investors.
Price has taken support over 390 with high volume and it is ranging in expanding channel. Take entry at 396 with 390 stop loss, target will be 414 -416. Duration is 6-7 Days