UBL

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I wish to buy shares of UBL Ltd. Should I buy at the cur­rent price?

AVOID UNITED BREW­ERIES FOR NOW

- Sri­rama

UBL is cur­rently trad­ing at Rs 851. Its 52-week high/low stand at Rs 958/Rs 715.80 made on Oc­to­ber 13, 2016 and April 18, 2017, re­spec­tively. Con­sid­er­ing the daily time frame, the stock has been trad­ing in the range of Rs 775-855 since De­cem­ber 2016. The vol­umes are low and the 14-pe­riod RSI is quot­ing at 56. How­ever, re­cently the stock is trail­ing at its mul­ti­ple re­sis­tance level of Rs 855, but it has failed to sus­tain above this level on a clos­ing ba­sis, bar­ring one whip­saw break­out on Septem­ber 25. Thereby, we sug­gest you to avoid for now and en­ter only above Rs 870 level on a clos­ing ba­sis for big­ger tar­gets and stop losses as the stock shows tre­men­dous in­tra-day volatil­ity.

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