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UPL Limited Technical Analysis: Buy | Target Rs 615 | Arijit Banerjee

OUR RECOMMENDATION

  Buy    UPL 

CP#591.65
IdeaBUY
Buy Range565 – 580
Target615 – 620
StopLoss*560
Duration12 – 15 Trading Days
Potential Returns^7 – 8%
CP#IdeaBuy RangeTargetStopLoss*DurationPotential Returns^
591.65BUY565 – 580615 – 62056012 – 15 Trading Days7 – 8%

# CP – closing price on Feb 14, 2020
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 603.
^ Potential returns are calculated based on the median of buy range.

COMPANY OVERVIEW - UPL Limited

United Phosphorous (UPL) is engaged in manufacturing agrochemicals, industrial chemicals and chemical intermediates. The agrochemicals segment consists of agrochemicals technicals and formulations. The industrial chemicals segment consists of industrial chemicals and speciality chemicals. The other segment consists of traded products. Founded in 1969, UPL Limited offers a range of products that include insecticides, fungicides, herbicides, fumigants, plant growth and regulators and rodenticides. They have 23 manufacturing sites, which includes nine in India, four in France and two in Spain.
In Q3FY20, the consolidated Net Profit of United Phosphorus Ltd rose 77.54 per cent to Rs 838 crore as against the year-ago period.

Stock Data
NSE CodeUPL
Sectoral IndexNifty 500
52W High709.05
52W Low497.85
Face Value2
Relative Performance_UPL vs Nifty 500 Index

UPL Limited TECHNICAL ANALYSIS (MONTHLY)

  • Looking at the Monthly chart, UPL Limited share has seen a spectacular rally from the bottom of around 2.1 (September 2001). There is a steady support baseline which is moving upwards along with price rise.
  • Overall trend and the broader pattern are bullish and reactive pullback on might be temporary in nature.
  • As UPL current price is just above the Support, we find a Low-risk trade opportunity here.
United Phosphorus Ltd Technical Analysis
UPL Technical Analysis - Weekly Chart

UPL LIMITED TECHNICAL ANALYSIS (DAILY)

  • The stock of United Phosphorous Limited had been moving in higher top and higher bottom formation indicating positive bias.
  • Last few days UPL Limited price is trading above the 15 days MA and recent closing near the Upper Bollinger Band showing further bullishness.
  • ADX and +DI crossing above 30 indicates Upside momentum in stock price.
  • The momentum oscillator RSI is also moving northwards and thus showing strength in the counter.
UPL Technical Analysis
UPL Technical Analysis - Daily Chart

UPL Share Price Live UPDATE - POSITION & ACTIVITIES

Buy UPL Limited | Expected Profit 7-8% | Arijit Banerjee by GoodluckCapital on TradingView

Buy UPL Limited | Expected Profit 7-8% | Arijit Banerjee by GoodluckCapital on TradingView

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MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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