Short

UPL IS SOON TO CRASH DUE TO THIS PATTERN...

By peace_lover

Updated

TECHNICAL INDICATORS -

SYMMETRICAL TRIANGLE BREAKDOWN -

UPL had formed a very strong symmetrical triangle (with almost 8 CONTACT POINTS) recently and broke it down recently indicating a strong downmove to come in near future
REVERSAL FROM 50D & 100D SMA -

On daily timeframe, it had recently reversed from these two sma simultaneously again indicating downside pressure
REVERSAL FROM STRONG SUPPORT-RESISTANCE LEVEL -

It had also tested and reversed from an old and time tested level which earlier had acted as support and now working as resistance level
PROFIT TARGET -

Its profit target is 544.95

FUNDAMENTAL INDICATORS -

LOWER SALES & PROFIT MARGIN COMPARED TO PEERS -

On the last quarter (jan-mar), UPL had delivered a lacklustre sales and profit margin comapred to its peers Tata Chemicals, Vishnu Chemicals, Tanfac. All its peers delivered positive growth whereas it has posted profit growth in negative (-4.06%). It is also creating downside pressure on the stock

Trade closed: target reached

Finally Take Profit (TP) is reached after 3-4 months, exit positions

peace_lover

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