U

UPL.NSE

UPL Ltd. – Weekly Technical View

Long-term

Equities

1 month ago

The chart above is embedded from a separate charting application. Website-level accessibility is improved here with keyboard-friendly sharing, clearer labels, and text-based alternatives, while chart-canvas controls still need to be fixed inside the chart application itself.

UPL is currently transitioning from a long consolidation phase into a developing uptrend , supported by a series of higher lows (green circles) along a rising trendline. This indicates gradual accumulation after a prolonged sideways phase. However, the stock is still trading below a strong historical resistance zone near ₹829–₹830 , which has previously acted as a major supply area (multiple rejections marked in red). This makes the current structure improving, but not yet fully bullish . The ₹640–₹670 zone is a key consolidation and demand area . Price is currently hovering around this zone, making it a decision point for the next move. Higher lows - early trend formation Repeated resistance near ₹830 - strong supply overhead Current price near consolidation zone - critical support test Key Levels: Immediate Support: ₹620–₹650 Trendline Support: ₹580–₹600 Resistance: ₹760-765 (intermediate), ₹829–₹830 (major) View: The structure is gradually turning positive , but confirmation is still pending. Holding above ₹640–₹670 keeps the recovery intact A Strong breakout above ₹830 would confirm a trend reversal and continuation Conclusion: UPL is in a base formation with early signs of strength . The stock is not yet in a confirmed uptrend, but the improving structure suggests a potential upside if key resistance is breached .

UPL is currently transitioning from a long consolidation phase into a developing uptrend, supported by a series of higher lows (green circles) along a rising trendline. This indicates gradual accumulation after a prolonged sideways phase.

However, the stock is still trading below a strong historical resistance zone near ₹829–₹830, which has previously acted as a major supply area (multiple rejections marked in red). This makes the current structure improving, but not yet fully bullish.

The ₹640–₹670 zone is a key consolidation and demand area. Price is currently hovering around this zone, making it a decision point for the next move.

  • Higher lows - early trend formation

  • Repeated resistance near ₹830 - strong supply overhead

  • Current price near consolidation zone - critical support test

Key Levels:

  • Immediate Support: ₹620–₹650

  • Trendline Support: ₹580–₹600

  • Resistance: ₹760-765 (intermediate), ₹829–₹830 (major)

View:
The structure is gradually turning positive, but confirmation is still pending.

  • Holding above ₹640–₹670 keeps the recovery intact

  • A Strong breakout above ₹830 would confirm a trend reversal and continuation

Conclusion:
UPL is in a base formation with early signs of strength. The stock is not yet in a confirmed uptrend, but the improving structure suggests a potential upside if key resistance is breached.

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Posted by

VITHULDAS

Moderator

1 month ago

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