Chart Idea- UPL, CMP 515
UPL, look at the trend line on the daily chart. It is facing hurdle in the range of 540—550 and chances are bright that it could test its resistance level of 540—550.
Three consecutive close + weekly close above 550 will see a fresh breakout for the upside target of 734+++ levels in days to come
Our positive view will negate on a close below 465 levels.
Oscillator like RSI crossover is above average line i.e. 50 along with it also trading above the average line of the Bollinger band which shows strength on the daily chart.
Traders may go long UPL in a panic with stop loss below 465 on a closing basis for an upside target of 540—550 and then to 734.
Note: This chart idea is only for educational purposes. Read the disclaimer before investing. All levels are on the basis of the equity cash segment. We don’t believe in Sureshot calls, guaranteed calls, or operator calls. Calls are purely based on technical and fundamental analysis.