UBL: Can go long with strict SL

15 Eki 2020

It looks like UBL is ready to give a break out on the long side. It has been creating lower lows since the last three days, the crash of 300 points on Nifty has no effect on it. It has good support at 940 levels. Risk averse traders can go long with a strict SL below the trend line while a slightly riskier trade would be to go long with a SL around 935-940 on a closing basis. Note: This is only for educational purposes.

16 Eki 2020

Not

Can try it as a 1 month positional trade with an SL of 930-940 on a closing basis. Can expect a 10% upside to 1060 levels.