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Investors with a short-term view can buy the stock of UPL at current levels. It surged 3.7 per cent accompanied by an above-average volume on Monday, breaking above a key immediate resistance at 587 rupees as well as the 200-day moving average.
It has also breached its 21- and 50-day moving averages and hovers well above them.
The short-term outlook is bullish. The stock can extend the uptrend and knock the price targets of 627 rupees and 640 rupees in the short term.
Traders can buy the stock of UPL with a stop-loss at 591 rupees.
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