UPL’s inventory has been depreciating steadily since early final yr. It confronted a resistance between ₹780 and ₹800 and started to say no. A few weeks in the past, UPL broke under an vital help at ₹500. This has elevated the chance of additional fall in value. Though there was a rise in value just lately, it’s more likely to be a corrective rally. Assist-turned-resistance of ₹500 is more likely to invite extra bears, weighing on the inventory.
At ₹500, a trendline and the 20-day shifting common resistance coincides, making it a robust barrier. So, we suggest going brief on UPL on the present stage of ₹492. Add shorts in case the worth inches as much as ₹500. Hold preliminary stop-loss at ₹510. When the inventory falls to ₹470, alter the stop-loss to ₹485. Exit at ₹460.
(Be aware: The suggestions are based mostly on technical evaluation. There’s a danger of loss in buying and selling.)
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