UPL LTD GIVES BRAKE OUT IN DAILY CHART FROM CUP AND HANDLE PATTENSE:UPL
UPL ltd gives brake out in daily chart.
Buy 530
SL 495
Target 603,740+
Time Duration 1-2 month
Uplview
Sell UPL @ 760 TGT 720/690/602 stop@ 810The profitability is in the decline phase and technically pointing towards the head and shoulder with the support of volume and with interest increasing we can see some profit booking at current levels on the stock.
UPL Short Term (AUGUST 2022 ONLY)Stay Long Above - 782.95, T1 - 803.35, T2 - 824.35, T3 - 864.80, T4 - 906.85...... SL 751
Short Below - 745, T1 - 722, T2 - 702.20, T3 - 682.90, T4 660..... SL 782
Simple Trade Setup | UPL | 18-04-2022 [INTRADAY]NSE:UPL
Observations:
1) On 1day time frame,we can see 824 is immediate breakout level and major breakout level is at 840.
And it is forming rounding bottom pattern. as well as cup and handle type formation as well.
If these patterns gets activated then we can see good up move.
Please refer below chart : 1day time frame.
2) On 15min time frame, we can see a support trendline. If it gives breakdown of this support trendline then we can see intraday fall.
Please refer below chart : 15min time frame.
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Trade Setup for 18-04-2022
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.
