Stock Analysis of UPL Ltd.UPL Ltd–CMP - ₹445.80 Dt.–27-07-2020
On a daily chart, the stock is giving respect to the trend line as well as to the 21DEMA. 3 times stock has taken the support of the trend line and bounced back. In the last trading session, the stock has given a slight close below the trend line but above the 21DEMA. It looks like if stock started moving up then it will face the resistance at ₹460.55 and then ₹470.30. If stock follows the trend and moves down, then it can take support at ₹439.15 and then ₹422.50.
RSI and CCI are neutral however the MACD has given the sell signal.
UPL
UPL - Deja Vu
The stock is sitting beautifully at its 0.618 retracement level.
Two long term supports/resistance are drawn at 480-482 & 498. You will have to scroll to left to see why!
It made a Shooting star today but I won't read a lot into it.
Positional Trades:
Go long above 465 for 470, 475, 478, 482 with SL at 459
Short below 459 for 455, 450 with SL at 464.
Please note the use of "above" and "below" instead of "at" !
Cautious View on UPL for 24th July 2020In today's Trend it has been observed that the Script has touched and faced a hurdle at this Trerdline near 470 and could not sustain. the Stock has made Double Top and Double Bottom Format so now it's positioned at a stage where it can give a Breakout or Breakdown.
So be Long if Crosses 475 for the Targets of 480-485-490 Targets.
Go Short if Sustains below 456 for 5% Downside before Earning.
Fundamentally good stock and expectation of Good results at high on Street.
Happy Trading.
It's my Personal View, Please don't treat as Recommendation.
[Inside Bar] UPL Buy above 445 with Sl at 435.5
Sell Below 435.5 with SL at 445
~ Inside bar trades are generally aimed to capture the compression effect i.e sharp breakouts. Profits are
taken quicky or trailed in most of the cases and closed before market close barring rare cases where price action analysis suggests otherwise.
~Manage risk, reward will take care of itself
UPL running in downsideupl current price is 446 and create the rising wedge #pattern in the 1-hour timeframe and now ready to come to the down and sell near 449-453 with stop loss 459 and #downside target is 442-435-425. In the #upperside resistance is 463-467 cross this #level and stay above then easily come to 480-495-510+.
Also, awesome oscillator shows the weakness and below the 0 line.