UPL is in a upward channel ... in the resistance zone also consolidating .. possible both scenario upward breakout or back to support level ( indicated in red line) buy only if candles closes above the channel middle line.. scenario 1: consolidate for some time in red zone ... goes towards the last support line to test the level and also to increase the buying...
Multiple time frame analysis.... impulse wave completed... correction wave completed...forming ABCD Pattern....heading for around 100 region...perfect retracement bounce from recent peak...
UPL NEAR ITS SUPPORT, TESTING WITH LOW VOLUME, EXPECTING SOME UP MOVE TILL 430
SHORT UPL WEAK BELOW 334-333 TARGET NEAR 305,300, SL 358 (Adjust Future premium/discount accordingly)
UPL is about to break the trend. Currently need to cross 50MA and sustain to break the channel and also need to cross 50% FIB levels. It has couple of resistances just above, but once cross 430 - it will fly away keep it in watch list.
If price opens around pivot, short below 298.5, t1- 293.45 , t2-287.5 Above pivot, long arouond 302, t1-312, t2-314.. If gap up, short around 315 levels, T1- 305, T2-294 If gap down, long around 287.5 , t1- 293.45, t2-299
Next week will be interesting. There are actually two wedges formed. I'm hoping for a nice pop either Mid-End Next week, or possibly the following Monday.