Top buzzing stock: United Phosphorous Limited

Top buzzing stock: United Phosphorous Limited

by 5paisa Research Team Last Updated: 2022-04-13T13:28:40+05:30

The stock of UPL is bullish and has soared nearly 3% today.

UPL Limited provides crop protection solutions and is engaged in the business of agrochemicals, industrial chemicals, and speciality chemicals. It has a market capitalization of about Rs 62000 crore and is one of the best in its sector. The stock is in limelight due to its recent run-up.

It is one of the top gainers among the Nifty stocks. With its strong price action, it has crossed above its short term resistance of Rs 824. Since its prior swing low of Rs 765, the stock has gained about 10% in just nine trading sessions.

Currently, the stock trades near a crucial trendline resistance, following which the stock can see a stronger upmove. Recently, the stock has recorded above-average volumes, which were found to be greater than the 10-day and 30-day average volume, thus demonstrating larger trading activity in the stock.

Along with its strong price structure, the 14-period daily RSI is placed above 65 and indicates strong strength in the stock. The OBV represents a similar depiction and indicates strong strength from the volume’s perspective. Moreover, the MACD line continues to lie above the signal line and zero line and indicates good momentum in the stock. Also, the Elder Impulse system indicates a buy.

The stock has outperformed the broader indices in recent times. On YTD basis, it has generated about 10% returns as against 1% returns of Nifty. During this period, it has also outperformed most of its peers. Considering its overall bullishness, the stock is expected to trade higher in coming days. It has the potential to test the level of Rs 850, followed by Rs 870 in times to come. It presents a good opportunity for swing trading and traders must not miss out on an opportunity to gain decent profits.


Also read: Stocks that gained up to 1,780% in just three months!

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