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...
Price reached the resistance levels from the support with super bullish movement. 3rd time in a row price reached this levels and this time as it looks strong it is expected to break this levels and probably the channel itself.
As I insist in these kind of trades the best time of entry is not the breakout it is the support levels.
In my earlier post of 19 Aug, I have mentioned two direction for UPL. One was creating the Raising Wedge and the other if the Wedge is broken Upwards. Now it's clear that the Wedge has broken upwards and a Bull Flag is visible. This will now continue to travel in the Channel. Target on the chart.