A Inverted Head & Shoulder Chart Pattern Breakout happened on the weekly Time frame of NSE:UPL
Price Action supported by volume.
The stock is currently in uptrend making higher highs and higher lows.
One can add this stock into their stocks to buy list.
One can initiate the long trade as per the lavel mentioned on the chart
Stop loss will be on a Daily ...
UPL(United Phosphorus Ltd.) has been declining over the past few sessions & has recently entered a supply turned demand area on weekly timeframe
Earlier in 2021, 650 was a key resistance and later on we saw a momentum filled breakout with high volumes after which the stock has been consolidating since then. For now 630 seems to be a good accumulation level as it...
According to the daily chart, UPL has formed a double bottom pattern near a significant support zone. Notably, while the price made a double bottom near the same level, the Relative Strength Index (RSI) recorded a higher low, indicating a bullish divergence in the RSI.
We can go long after the close of a strong bullish candle near the support...
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...
UPL has formed Double Bottom Pattern. Which is a bullish pattern and it may form W pattern. So we can take swing trade here.
We can go long when price gives breakout above the resistance zone with strong bullish candle.
We can keep target near the next resistance which will be also the neckline of W pattern as marked on chart.
Please note these strong support and resistance levels in UPL and
use the help of MACD to confirm the direction of the trend !
StochRSI intends a bearish move, but confirms when the level breaks
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...
Buy Some at 730-740
Add More at Dip Levels - 720 -700
Short term Target1 : 792
Short term Target2 : 847
Mid term Target3 : 870
Long Term : 910
Note: This is for educational purpose only
Buy in Small qty at support
UPL Ltd , Seems Clear Breakout of Red Resistance Trendline , Jumped From Green Support Trendline . RSI Getting Stronger But Neutral MACD. Showing Strong on Hourly Chart . Keep Watch For Long Trade . NSE:UPL