UPL Ltd

NSE :UPL   BSE :512070  Sector : Agro Chemicals

About Company: UPL is principally engaged in the business of agrochemicals, industrial chemicals, chemical intermediates, specialty chemicals and production and sale of field crops and vegetable seeds.

Technical Outlook Of UPL:

Stock today on 10th Nov 2021 (Wednesday) broke out of falling channel pattern. UPL Share prices climbed by +3.34% and closed at 771.30 on NSE. Technical indicators signal further up move in the stock, it can continue to move up. Squeeze momentum indicator turned green which is a bullish sign for the stock. On the lower side 740 is the strong support for the stock. Stock formed a bullish engulfing candle pattern which is a very bullish sign for the stock.

On the above chart it can be clearly observed, stock has broken channel pattern after huge consolidation. As it’s always better to catch the stock where there is breakout after huge consolidation. The more the consolidation the better is the breakout.

We recommend traders to go long on the stock at current market price of 771 for the targets of 840 in next 10-15 trading session, Stop loss for the stock should be kept below 740 on closing basis.