UBL

Flash News Investment - - YOUR TECHNICAL PORTFOLIO GUIDE - - Chan­drashekhar Kan­war

I am hold­ing UBL at Rs 1060, but could not sell the same at the top made re­cently. What do I do now?

EXIT UNITED BREW­ERIES BE­LOW RS 1000

UBL is cur­rently trad­ing at Rs 1123. Its 52-week high/low stand at Rs 1190/Rs 715.80 made on Novem­ber 8, 2017 and April 18, 2017, re­spec­tively. The stock has wit­nessed a sharp up­side since Oc­to­ber 25 from a break­out at Rs 860 level up to Rs 1190 level. Af­ter hit­ting al­most a dou­ble top on Novem­ber 6 and Novem­ber 8, the stock wit­nessed a cor­rec­tion and is trad­ing in cor­rec­tion mode for now. The 14-pe­riod RSI has just re­versed from the over­bought zone with jus­ti­fi­able vol­umes. Hence, it may cor­rect some more up to Rs 1050 to Rs 1005 lev­els. In case you are not a risk taker, then book nom­i­nal prof­its now or hold with a stop loss of Rs 1000.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.