NSE:UBL
Observations:
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...
UNITED SPIRITS IS FORMING A SYMMETRICAL TRIANGLE PATTERN IN MONTHLY TIME FRAME AND CAN BE WATCHED OUT FOR POSITIONAL TRADING.
ITS HAVING CLEAR SUPPORT FROM AGGRESSIVE BUYERS IN THE LOWER TRENDLINE AND OVERALL ITS IN AN UPTREND. AND THERE IS A HIGH CHANCE OF BREAKOUT IN THE NEAR TERM.
IT HAS FORMED A BIG BEARISH MARUBOZU CANDLE IN MONTHLY TIME FRAME ON MARCH...
In the daily chart if we draw Fibonacci Retracement from top to bottom then we can clearly see that United Breweries is exactly reversed from 38.2% retracement level. Take long position guys for the target of 1315.
