UPL on Monthly longer time frame is creating multiple pattern on various charts.
Two significant pattern visible is Flag pole and Diamond pattern.
Hence it can breakout on either side
If breakout on upper side then target of 991 is expected
If breakout on lower side then target of 508 is possible.
currently good for trading the range unless breakout occurs...
Negative crossover observed at UPL chart on both daily & weekly timeframe.
Weak market sentiment can drag it till 620 if it sustains below 680 levels.
Short Trade can be initiated below 700 with SL above 720.
UPL is a very good pick for investing, from Nifty 50 stocks.
1. It has an average EPS of Rs 29.50 since the last 6 years.
2. It is from the agriculture chemical sector, which is a good sector to invest in. The sectors I don't recommend are Aviation, Telecom, Etc.
3. It's IV is Rs 1390, if 29.50 EPS and 6.1% (India 10-Year Bond Yield) is considered....
Trading and investing are completely different in nature.
In trading, we don't care about the prices whether it's fair or not.
We buy high and sell even higher.
But in investing, we should only buy a stock near its intrinsic value. No matter if everyone is making money except us. But, price which is justified by fundamentals are sustainable and proved...
The stock has been trading in a range for a long time , now its about to breakout ; buy when the price gives a clear breakout on the neck line.
Consider the time frame here , I have used 1 Day as TF so the chances of hitting the targets are good only when you hold it for a longer duration. The SL here is of 3.5-4% , so do your Position sizing according to your...
1) On 1day time frame, we can see it is has formed cup and handle pattern.
Please refer below chart : 1day time frame.
Trade Setup for 07-04-2022
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is...
Possible inverted head and shoulder in UPL in a daily time frame. First Target 850 range if it break 850 range. It can reach its pattern target 1013. As 850 range is tested multiple times so there is high chance price can reach its pattern target if it break 850range with volume. Do your own analysis before investment. Its purely technical call.