UBL created an all-time high at 1785 and started declining to overcome the demand pressure.
Bulls pushed prices extremely high, and bear found that convenient to sell.
The stock has respected equilibrium in the parallel channel.
At this glance, the price is at the lower band of the parallel channel.
If the price breaks the parallel channel,...
1) On 15min time frame, It has made a big bullish candle on 2nd Sep. High of that candle was 1608.25 and low of that candle was 1564.20.
Since-then it has been trading sideways in this range and not able to give sustainable breakout on either of side.
Please refer below chart : 15 time frame.
2)On 1hr Time Frame: Previously it...
UBL (NSE Cash)
Market cap: 307.86B
Rel vol: 2.27
Avg vol: 578.59K
***All technicals are bullish
Daily chart (long term)
The first support, 20 DEMA is at 1154.59 and the first resistance is at 1274.45 so the risk to reward ratio is close to 1:1 which is good.
The chart is in an uptrend...