UBL
Key highlights: 💡⚡
📈 On 1D Time Frame Stock Showing Channel Pattern.
📈 Strong Bearish Candlestick Form on this timeframe.
📈It can give movement upto Reversal target of 1645-.
📈 Can Go Short in this stock by placing stop loss Above 1770 or last swing high.
Price is at All Time High
CMP: 1775
Targets: 1929
SL: 1706 ( Very Short)
Disclaimer: This is for educational purposes only, not any recommendations to buy or sell.
UBL closed above the crucial resistance level of 1750 on weekly chart, after consolidating for more than 5 months. Volumes are spiking with RSI rising above 60. Keep an eye on the stock. NSE:UBL
Trade Or Invest Wisely.
We Can Just Predict.
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Note : Trading in any financial market is very risky. I post ideas for educational purpose only. It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.
UBL Can go long at 1720 with stop loss of 1580 for the target of 1860 & 2000 & 2140.
Disclaimer - If anyone make any position at F&O based on this view should solely responsible for the outcome of that trade.
In a daily Chart, already there was a symmetric triangle breakout. Probable target is given in the chart as per pattern. If it is coming for retest then 1600 should be major support next support will be 1550. These are the good level for entry, keeping stop loss below breakout candle's low that is 1490. Which is good risk reward ratio.
As per the current market...
The analysis is done on weekly TF hence price may take few weeks to few months in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock...
UBL (UNITED BREWERIES L) breaks the triangle we can go LONG (buy). trail your stop loss below the trendline your target1 : 1670 - 1680. target 2 : 1750-1770
