A good possible long opportunity As UPL given a breakout from the downtrend channel pattern after the breakout in 30 min timeframe a consolidation has formed wait for it to breakout for long entry.
UPL trade ideas
UPLBuy above 600 after trendline breakout
Sell below 591 after support breakdown
Learning and educational purposes only
rounding bottom formationstock is made round bottom and broke , volumes are not coming so will consider bit risky. last time i missed the breakout of cup and handle. with 8% sl postionally long can be taken if breaks high with volume.
UPL - Breakout Trend - weekly and monthly chartUPL - Breakout Trend - with target of Rs. 900++ in weekly chart. Are you following me for more trend updates?
Weekly and monthly chart breakout
Volume is good, we still have some room in RSI, and Elliott is favourable in weekly and monthly.
UPL - Uptrend - Possible correctionBased on previous trend - multiple times, we see UPL correction to next level from current trend line.
Possible correction to 480 levels or if market uptrend continue - we see 520+ levels immidiately.
Add to watch list and trade as per trend,
Symmetrical Triangle with retest doneUPL broken sym triangle with retest expected targets are marked on chart.
let's see...
UPL Triangle breakout Triangle breakout happened with BEARISH ENGULFING,
so can expect trending SHORT to Targets as 529 then 510 then 484.
UPL showing some good strength for long termgood fundamentals stock .
also giving breakout of symmetric triangle and retesting.
forming a morning star pattern.
long term view bullish
UPLMarket seems to take correction but I'm bullish on this stock cause it is rising in channel, took support at trendline and formed candlestick pattern like morning star.
(Only for day trading)
UPL PRICEACTIONAs we can see from the chart if we are trading based of the support & resistance.
Some time we forget about the hidden support or resistance between the path.
We should check for it before entering in any trade,
Please suggest your views
Thank You
