UPL-Short trade opportunity -Futures trade

Hi Traders,

As per the above chart , UPL is currently at good support zone, if the price breaks the support zone in downward direction and closes below Rs.693/- (in 1 hour chart) you can take the short trade, stop loss is based on your risk appetite and Target 1 is Rs.640 to 630 and Target 2 is Rs.600 to 590/-.

1 Lot of UPL futures is 1300 shares and margin required for this trade is around Rs.2,35,000/-.
This analysis is for short term trade (i.e. Positional trading) and not for intraday.

Note : This is not a financial advice and trade at your own risk.

Thank you.
Enjoy the trading.

Comment:

Hi Traders,

As per the above analysis, i said if the price close below Rs.693/- you can take the short trade but the support zone didn't broke down and provide support to the price at Rs.694/- and went off to the nearly high of Rs.754/-.

So trade was not yet activated and i will give the update if the price come to our zone as per the above analysis.

Thank you.
Enjoy the trading.

Comment:

Hi Traders,

Today the first 1 hour candle is closed below Rs.693/- so trade is activated. You can take the short trade at CMP i.e. Rs.695/-.

Thank you.
Enjoy the trading