Moneycontrol PRO
Upcoming Event:Attend Algo Convention Live, 2 Days & 12+ Speakers at best offer Rs.999/-, exclusive for Moneycontrol Pro subscribers. Register now!

Quant Pick - UPL : ICICI Direct

According to ICICI Direct, Buy UPL in range of Rs 625-635, Target: Rs 735, Stop Loss: Rs 570, Time frame: Three months.

March 31, 2021 / 03:16 PM IST

ICICI Direct's research report on UPL


Recommendation


Buy UPL in range of Rs 625-635, Target: Rs 735, Stop Loss: Rs 570, Time frame: Three months.



Derivatives & Quantitative Outlook



Broader markets seem to be moving into a consolidation phase after a sharp up move was seen in the last one year. However, stock specific moves are likely to continue while the focus should be on stocks with low leverage positions. UPL is one such stock, which seems to be moving out of the current consolidation and is likely to make fresh lifetime highs in coming weeks. Chemical stocks have been one of the best performers in the last one year but UPL has been an underperformer. UPL has seen a gradual build-up of open interest in the last couple of months with recent price performance. However, there is ample room for further increase in open interest. We expect long additions in the stock once it sustains above Rs 640 levels.

Close

For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.



Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes

Broker Research
first published: Mar 31, 2021 03:16 pm
Sections
ISO 27001 - BSI Assurance Mark