United Breweries Limited‘s (UBL) stock has been appreciating since May after finding support at ₹1,400. A couple of weeks ago, it resumed the rally from ₹1,680 after witnessing a minor correction in price. Last week, it saw a fresh breakout, opening the door for further upside. Although UBL stock barely changed on Monday, the uptrend remains intact.
The chart shows that the likelihood of a rally on Tuesday is high where it could touch ₹1,825. So, we suggest going long now at around ₹1,792 and buying more shares in case the stock dips to ₹1,780. Place stop-loss at ₹1,765. When the stock rallies above ₹1,810, tighten the stop-loss to ₹1,795. Book profits at ₹1,825. In case the stock opens below ₹1,775, refrain from taking this trade.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)