UPL
UPL Monthly/Weekly/Daily supply zone 505-606UPL Monthly/Weekly/Daily supply zone 505-606
cmp:445 19Aug2020 Price is just approaching towards the supply zone stradly in a steady uptrend
Pro:
1. good Location(Monthly) structure with 2 exciting candles
2.Levels over levels in weekly chart inside same weekly zone
con:
1. Execution daily only 1 exciting candle and there is no basing.(so confidence is low)
2.few( but not not so many) trading activity on the left in daily candles
3. Stock is in steady uptrend, so it might not drop again more
4.zone is big
UPL Result : Good result and stock on channel breakout#UPL Q1FY21 Profit Nearly Doubles On Low Base, Improved India Business. Net profit rose 93% year-on-year to Rs 551 crore in the April-June period. UPL’s Revenue declined 1% over the year ago to Rs 7,833 crore.
Showing Bullish result in Technical Parameter:
CCI Overbought zone
RSI is treading UP
MFI is treading UP
Stoch is treading UP
DI+ is trending UP from DI-
Aug PCR OI is 0.51 means oversold.
Closed below 200SMA
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Resistance : 498.55 and 520
Breakout : 486
LTP : 478.15
Breakdown : 474
Support : 467.20 and 456.35
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Positive & Negative Point:
1) Bullish in Daily chart.
2) Neutral in Weekly/Monthly chart.
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(Disclaimer: This is only for educational purpose and paper treading. Learn and take advice from you financial advisor)
UPL Multi Time Frame Analysis . ( 1 Day & 75 Min ) UPL Multi Time Frame Analysis . ( 1 Day & 75 Min )
Trade Type :- PULLBACK
On Daily
Price Making HH And HL's ( With A Higher Volumes )
Going Up Volumes Are Greater Then Avg .
It Made A High Of 449.70 ( With Low Volume Bar & Bearish Candle )
After Making High It Retraced Till Fib 0.5 Levels And Taking Support On that levels .
Price Taking Support On 34 Days EMA .
After Entering Demand Zone Price Made A Doji Which Shows Indecisiveness .
On 75 Min .
RSI Is Giving Divergence .( Momentum Is Shifting )
Trade Plan
ENTRY :- Buy Above Doji ( 411 )
STOP LOSS :- 388 ( Where Last Demand Came )
Target
432 ( Strong Resistance)
Swing Target :- 460-475 ( FIB Extension )
Happy Trading
UPL LTDTHE STOCK SEEMS TO BE IN STRONG UPTREND , RECENTLY STOCK HAS BROKEN RESISTANCE WITH VOLUMES , NOW THE PRICE SEEMS TO GO UP TO TEST THE RESISTANCE OF AROUND 456 LEVELS , WE CAN SEE STOCK TO GO DOWN ONCE IT BREAKS AROUND 430 LEVELS ,WE CAN GO LONG AT RETEST OF AROUND 435 LEVELS WITH TARGET OF 450-456 WITH STOP OF AROUND 426-429 LEVELS
VIEWS ADN SUGGESTIONS INVITED
THANKS
UPL Limited view from 2 June 2020UPL is in a upward channel ... in the resistance zone also consolidating .. possible both scenario upward breakout
or back to support level ( indicated in red line) buy only if candles closes above the channel middle line..
scenario 1:
consolidate for some time in red zone ... goes towards the last support line to test the level and also to increase the buying pressure
scenario 2 :
continue the channel aggressively by going upwards
scenario 3 :
not able to hold in the red zone and falls.