UPL - 60Min - More 10% downside ?
UPL is in a deeper bear flag continuation pattern. The stock is approaching a key zone between 556 - 565. This will be the 3rd touch of the bear flag indicating pattern completion. If there are strong rejections at this area the stock can reserve and continue its move to the downside potentially till the 500 levels.
Sell Zone - 556 - 565
Traders should enter short only after the close of any rejection candle. ( pinbar, engulfing)
Stoploss - 570
Target 1 - 520
Target 2 - 500
Disclaimer
This content is for information and educational purposes only and should not be considered as a piece of investment advice or an investment recommendation. Past performance is not an indication of future results. All trading carries risk. Only risk capital which you are prepared to lose.
Sell Zone - 556 - 565
Traders should enter short only after the close of any rejection candle. ( pinbar, engulfing)
Stoploss - 570
Target 1 - 520
Target 2 - 500
Disclaimer
This content is for information and educational purposes only and should not be considered as a piece of investment advice or an investment recommendation. Past performance is not an indication of future results. All trading carries risk. Only risk capital which you are prepared to lose.
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