UPL: A Textbook Short setup
Here are some guidelines for determining the next steps regarding UPL:
Consolidation: UPL has experienced a period of consolidation for over two years, forming a symmetric triangle pattern.
Breakdown and Retest: There was a breakdown from the triangle pattern, followed by a retest, which resulted in a continued downward movement until reaching a 52-week low.
Short Opportunity: The chart pattern of UPL presents a classic setup for a short trade.
Immediate Support: There is an immediate support zone approximately 5% below the current market price (CMP), which could potentially come into play.
Stronger Support: If the immediate support level fails to hold, the next significant support level is located around 20% below the CMP.
PE Ratio Range: Throughout the observed range, the price-to-earnings (PE) ratio of UPL has fluctuated between 22 and 13
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Disclaimer: We are not registered advisors. The views expressed here are solely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. We like everybody else, have the right to be wrong :)
Consolidation: UPL has experienced a period of consolidation for over two years, forming a symmetric triangle pattern.
Breakdown and Retest: There was a breakdown from the triangle pattern, followed by a retest, which resulted in a continued downward movement until reaching a 52-week low.
Short Opportunity: The chart pattern of UPL presents a classic setup for a short trade.
Immediate Support: There is an immediate support zone approximately 5% below the current market price (CMP), which could potentially come into play.
Stronger Support: If the immediate support level fails to hold, the next significant support level is located around 20% below the CMP.
PE Ratio Range: Throughout the observed range, the price-to-earnings (PE) ratio of UPL has fluctuated between 22 and 13
If it helped, Do Leave us a boost 🚀. What is your take on it? Feel free to comment.
Disclaimer: We are not registered advisors. The views expressed here are solely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. We like everybody else, have the right to be wrong :)
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Target 1 Done. Will it reach the next significant support?บันทึก
52W Lowบันทึก
Current Price Action:บันทึก
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Double bottom in progress:บันทึก
UPL on its way to the next support zone?บันทึก
A bounce from the exact support Zoneบันทึก
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The price is below 500. We need a weekly close back in the zone with proper strength candles if we need a reversal.บันทึก
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Time for recovery??
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👉 Visit nas.io/TradeWithTc to learn Price Action with real life case studies.
#BeYourOwnAnalyst
🎯 You can now access our personal charts for all Nifty 500 companies📈
👉 Visit nas.io/TradeWithTc to learn Price Action with real life case studies.
#BeYourOwnAnalyst
👉 Visit nas.io/TradeWithTc to learn Price Action with real life case studies.
#BeYourOwnAnalyst
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