UPL trade ideas
ASCENDING TRIANGLE FORMATION IN UPLTHIS STOCK IS AT THE TOP OF THE TRENDLINE OF THE ASCENDING TRIANGLE FORMATION. BREAKOUT POSSIBILTY & IT'S A BUY ABOVE 710 DUE TO A BULLISH CANDLE IN WEEKLY CHARTS. REST IS SELF EXPLANATORY IN THE PICTURE.
UPL - Nearing breakoutPrice moving aggressively towards the resistance and if this trend continues then price will break the resistance comfortably and breaks it with ease.
UPL 52 weeks trendline breakoutDate: 02/ 04 /21
Stock: UPL
CMP: 653.60
Transaction type: Buy
Price: CMP
Target: 700, 750++
SL: 557
52 weeks trendline breakout. Ready for new 52 weeks high.
UPL Trend BreakoutOn Daily Chart UPL showing a trendline breakout
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UPL - Will it Break All time high? If market continues Bullish Trend , UPL might Breakout its recent high 673.95 and go upwards breaking its All time High - 709.05
Risk : Since Covid 19 cases continuously increasing and many states started imposing LOCKDOWNS.. It might turn into negative trend if it breaks support of 584.
Next Support : 500-520.
Note: This analysis is only for educational purpose.
UPL to give breakout-CUP&HANDLE formation -22% return expectedUPL CMP at supply zone but Q4 result better than expected.
As the price at supply zone may form handle pattern as CUP already formed.
Once breakout from handle ie..700 and above Target 722 is expected.
Entry can be taken if proper breakout above 700 or if give entrancement to 653~680 , can be entered with SL below demand zone 620~ 640
UPL houly Analysis cash levels SHort @ 666-670 SL above 677 UPL houly Analysis cash levels SHort @ 666-670
SL above 677
Target 655-650- 640-630+
UPL BREAKOUTBREAKOUT IN 15 MIN TF WITH STRONG VOLUMES. CURRENTLY AT AN IMPORTANT RESISTANCE LEVEL BUT LOOKING AT THE VOLUMES A BREAKOUT IS POSSIBLE. DAILY RSI ABOVE 60. IMMEDIATE TARGETS OF 700. GOOD SHARE FOR TRADING PERSPECTIVE.
Just a possibility.Buy around 600-605 for an upward trajectory of 💯 sl 580. Just a view better seek professional view.
Long UplApproaching trendline on a low volume , can approach previous high volume area but after a couple days of accumulation around 560 level
