AbhishekHSinghCMT

PC Jewellers- Old is Gold - 350 Holds the jeweller-Awesome

Long
NSE:PCJEWELLER   PC JEWELLER LTD
18
350-350 can you believe it- yes, it again came for the jeweler's rescue from the fall since 425 high- which was predicted at the top last time-Looks to turn down-which it did & now 350-354 giving the support.

Trading Strategy
If we see support coming from the rising trendline between 360-365 against 350 which is a critical level for future price action we can see Jeweller jumping close to 420-425 where it faces the next hurdle.

Having said that-trader always have to move their stops as the market moves so he does not faces trouble in future.

As per waves -likely we get minor wave-Y holding above 350 & kissing target zone 420-425 giving us excellent risk reward ratio.

You would love to read my previous updates

PC Jewellers -Played Kai-pidi with 350- Bang on move


Turning down just below 425- Amazing!

Kissing 350-354 & turning back again- Amazing!

Trade active: 23:35 Hrs 27th Feb2017

Last price@380

Moving above 385 can go close to 395 if extends above 395 hold your long positions with trailing stops below 395 -Book profits & likely if starts falling back again below 395 after making a new high -enter a short trade with recent high as stop target 275 & below 275 to 265

Trade active: 20:58 Hrs 16th March2017

Last price@417

Day High@420-421 has kissed the objective 420-425.


Thanks for your support. Take Care.
Trade active: 11:58 Hrs 17th March2017

Last Price@411

Oh, it falls sharply from 421 highs - so the move has started downside is the question to be asked to ourselves.

Trade active: 10:28 Hrs 20th March2017

Last Price@436

Moving above 425 has opened new zone & this up move can extend to 465-480 zone but if you missed -look a pullback to take long positions as I always advocate never jump in a running vehicle.

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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