traderphile

UPL potential breakout

Long
NSE:UPL   UPL LTD
UPI making HHs and HLs over the last few weeks. Now its above the 200 EMA , and at the junction of a trendline and a support line. strong correlation. next resistance at 498. SL at 462 and then at 438. Lets see how this plays out. There is also increase in volume . so more confidence in the upmove.
Comment: thesis rejected as it did not sustain above 200 EMA. next entry only once it crosses 200 EMA. first SL hit.

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