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technical

pick

UPL Ltd Buy UPL Limited is a generic agrochemical company. The
company is engaged in the business of manufacturing and
CMP: `560.50 (As on 01st Jul, 2016) marketing crop protection chemicals. It is also engaged
Buy: `558-545 in offering crop protection solutions. The company
Target Price: `580-610 manufactures crop protection chemicals and industrial
Stop-Loss: `535 chemicals across around 28 manufacturing locations across
the world. It offers a product portfolio of crop protection
UPL Ltd chemicals, including fungicides, herbicides, insecticides,
plant growth regulators, rodenticides, specialty chemicals,
nutrifeeds and seeds. The company operates through two
business segments agro activity and non-agro activity.
The agro activity segment includes the manufacture and
marketing of conventional agrochemical products, seeds
and other agricultural related products. The non-agro
activity segment includes manufacture and marketing
of industrial chemical and other non-agricultural
related products. It operates through around 76 global
subsidiaries in the agrochemical space.

Technical Outlook:

On the daily chart, we are observing that prices are trading
in an upward channel. This suggests that momentum on
the upside is likely to continue. Further, we are observing
that momentum indicator is gaining strength.

Hence we recommend one to buy this stock at Rs 558 or
on a decline up to Rs 545 with a stop loss of Rs 535 for a
target of Rs 580 – 610 levels.

5 ARIHANT CAPITAL ¡ JULY 2016