AbhishekHSinghCMT

PC Jewellers- Played "Kai-pidi" with 350- Bang On Move

NSE:PCJEWELLER   PC JEWELLER LTD
329 views
13
Kabaddi- originated from the Tamil word "Kai-pidi" means to hold hands. Most of us have certainly tried our hand at the game at some point in our lives & lessons it gives to all of us- if closely inspected- they are even required for trading financial instruments in markets as well.

Lessons like- Overcoming your fear, Enhance your presence of mind, Pay attention to small things & finally -fighting with the right attitude.

Short Term Bottoms in the zone 350-352
350- a key level works wonders & turns upside from 352, giving us vital information-what is that- It has become critical support for future sessions because that level has been holding for quiet a long time & bulls are returning back close to 350's.

Trading Strategy
Going below 350 -now for sure "PC" will have future problems. Short term opportunity could be seen once it starts moving back below 380 marks-so seller's could be interested as this move from 288 lows is all choppy & corrective in nature.

Bullish Against 350- Click The Chart & Load the Bar
Trade active: 23:05 Hrs 31st Dec2016

Last Price@396

Its a doji candle for the session means a candle which has hardly any distance between opening & closing price- that means buyers & sellers are confused -so kindly wait for market direction next -crossing high means shall move to next high or moving below current low & closing below that price -weakness is bound to come.
Trade active: 13:45 Hrs 5th Jan2016

Last price@411

At 409- Wave -((y)) travelled 61.8% of wave-((w)) if sustains above 409 then hold your positions for 422-425 zone, which is next hurdle & 78.6% of wave-((w))


Trade active: 13:47 Hrs 5th Jan2016

Last Price@410

This move started right at the bottom 350 which was a key level for U-turn & PC Jewellers stock did so.
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

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Comments

Dear Abhishek, whenever you find time, I would appreciate if you can share your views on McDowell. This share has been declining since long and I'm wondering if it is overdue for a decent bounce? Thanks
Reply
@sanjivt, Let me come back to you. Regards
Reply
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