UPLUPL, This stock has completed wave 4 and is possibly unfolding wave 5, hear is an example of good classic breakout and double confirmation would be done on closing above 795, One can go long at current levels or in dips (if any) with mentioned key levels on chart.
wave structure
breakout with good volume
macd in weekly uptick
macd in daily positive and uptick
rsi in daily uptick and above 60
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Upllong
UPL Buying opportunityHead and Shoulder formation is taking place.
MACD is showing bullish cross over indication positive momentum on weekly chart.
Chart setup is good to long UPL for high targets.
UPL is currently operating in channel and once it breaks out of the channel, we can see very good movements coming.
Disclaimer: This is an educational chart analysis and not any kind of recommendation. Please invest accordingly at your own risk.
Potential breaoutLooks like an interesting stock for reasons stated below:
1. The stock was striking a resistance today, could have seen a breakout but lost the momentum dearly today as the opening was flat and then we get a bearish marubozu.The stock didn't get enough volumes to breakout from its range.
2. The buying momentum in the current rally has been good due to the steep rise as evident from the charts. Also Also the low of last immediate rally was higher than its previous rally.
3. The stock has been trading in the range of 680-790 from August 2021. So the consolidation has been for long enough time. Also the stock tested 790 in the rally before last rally and now it is testing the resistance again with good momentum gives a hint of building internal strength.
4. Based on above points, I conclude that the stock may fall a bit in next wave but is is building strength and momentum for months now, so we may get a good breakout in next 1-2 months.
Expecting a Bullish Move in UPLOn the 1 Hour Chart of UPL LTD., we can witness a beautiful Formation of "Bullish Engulfing" on the downside levels. Therefore, we are expecting a bullish momentum in the stock in the upcoming trading sessions. Where the stock is being expected to face a resistance initially at around the levels of 741.10, 747.80, and 755.10. Whereas, on the other hand, on the downside levels, the stock may face a support at the level of 728.15, on closing basis. Closing Price (as on 16.12.21) : 735
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Simple Trade Setup | UPL | 15-12-2021 [ INTRADAY ]NSE:UPL
Observations:
1) On 1day time frame,it closed just above 100DMA.
It is trading above 50DMA which will work as major support now.
Once it start trading above 100DMA then it will be bullish.
100DMA is placed at 745.08
50DMA is placed at 730.49
Please refer below chart : 1day Time Frame.
2) ALso on 1 day time frame, it is still trading in long term parallel channel.
Please refer below chart : 1day Time Frame.
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Trade Setup for Date: 15-12-2021
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 mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Will UPL cross the benchmark of 1000?
UPL is forming impulsive wave 5.
Price was having complex correction of the wave 4.
Wave 4 retraced 0.382% of wave 3, and the price increased sharply.
The price target for UPL is 964 because wave ((5)) ends at 161.8 % of wave ((4)).
The buyers can initiate the long position on a pullback.
If you are not a swing trader, you find sub-waves on smaller timeframes.
Or be connected with me to get regular updates.
UPL: Picture abhi baki hai mere DostThe chart is self Explanatory, So i am not going to explain anything more.
And this is an Investment Idea not Trading idea. Those who wants to invest Have patience and add on dips.And for trading purpose 790 is a good level to book profit.
Chart & Analysis By - ADARSH DEY
UPL SWING BUY , FLAG AND POLE1. Flag and pole pattern is clearly seen in the chart.
2. Today on 10th of november it breaks out the flag with a good bullish candle having good volume, higher than 21 day average.
3. Now it may give a retest in before picking up the momentum or continue with no retest.
So it is good to enter in the stock now , and add more on the time of retest :
Entry : CMP ( 754-774 )
StopLoss : 740
Targets ,
There are two targets ;
1. The short one is where the trendline of the flag starts 852.40 , so Target 1 will be 840.
2. On holding the stock for more time , second target is based the length of POLE when we measures the length of pole and puts it at breakout level second target comes out to be 1025 ( 38% potential ).
Target 1 : 840 , ( RR ratio > 2.5 )
Target 2 : 1025 , ( RR ratio > 8 )
Disclaimer : This analysis/strategy is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
Swing SetupEXPLANATION : This is a Daily time frame chart of UPL . The stock has been in a downtrend for days and has formed double top pattern . If give a strong breakdown and broke its demand zone with volumes and has retested the same. I am bearish on this stock for the coming days . If taken support from demand zone we buy at the bottom and sell at the top , I am bullish on this stock for the coming days . Enter as per your setup .
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Falling Wedge Pattern Breakout in UPL On daily timeframe falling wedge pattern in UPL. Once this stock gives breakout of it's resistance level then expected this stock will move towards the 790 to 850+ target in short term time frame. Good to go long in this stock above 740 with close stop loss at 700 for target of 790 to 850+.
UPL Trade Setup For Monday (11th October)UPL share had following the trendline from last so many days, on Friday the stock break the trendline.
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736 is a strong resistance multiple times stock touch this level and then reverse. Now the stock is trying to break again.
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On Monday if Stock goes above 740, you can buy this trade.
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Safe Trader can take once it goes above 745 for the short term target of 760.
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What's your view on this comment below in the box.