Disclaimer: The analysis is only for Educational Purpose. Please consult your financial advisor
before taking any investment decision
An ABC correction seems to have ended in UPL after a failed 5th wave. Currently it appears to have finished minor wave 2 of wave 3.
It has broken a declining trendline with volume near the end point of wave 2 with high volume and big bullish bars which matches the personality of wave 3. If the above analysis holds true, then we are in a bull run with minimum upside of 15%-16% from the current levels of 534. A low-risk high reward entry point could be near the retest of the trendline or around 23-38% retracement levels of the last leg