rahul.u.bhagwat
Long

PC Jeweller : Short Term Bounce Expected

NSE:PCJEWELLER   PC JEWELLER LIMITE
PC Jeweller is facing resistance at higher levels & has formed a Symmetrical Triangle.
Usually Triangles react as a spring & break either support or resistance.

Here we are seeing a divergence in RSI & also a Gravestone Doji type formation with the last candle.

I expect a short term Bounce towards levels of 260/266 within the triangle.

Buy with a strict SL of 241.
Comment: Kindly Note that targets are 155 & 260. We could consider 266 if the triangle breaks on the upside. For the short term i expect the prices to test 155.
Comment: Targets are 255 & 260. Typing error. Kindly ignore..
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