UPL has made a bullish candle at the support level with the volume being expanded for the day. It can make an up move from the current levels till 200 EMA or till 480 levels.
Cheers! This is as per my Analysis. Feel free to share your view about this. Please do your analysis before trading/Investing.
UPL RSI (Weekly is below 30). It's a NIFTY 50 company. The RSI can't stay forever at that price and is sure to bounce back.
Targets are open 450/500 (a couple of months)
Let's keep stop loss of 6% @ around 480.
If you are a long term investor, you can average at this price. Fundamentally great company.
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I hope you can now see how UPL represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed...
UPL had been showing lower lows on weekly charts and based on the upside weekly reversal pattern, the stock has now made a lower which is higher than the previous week's.
With the results announced too, the stock could see a reversal from here. It is to be noted that the stock did not meet the street's expectations in terms of results but has still performed...