NSE:PEL   PIRAMAL ENTERPRISE
Our short position on PEL worked out to a decent fall. The full target is still on the cards!

LATE ENTRY REMINDER

A trader who has missed the opportunity can get a late entry near 1650 zone if it bounces for short covering
However it may fall relentlessly and to catch the move an order to sell can be given to trigger at 1560 (low of the day) for an additional 3-5% move

I always appreciate a follow since it gives me motivation to post such calls on a daily basis. Do check out my profile if you want to know the accuracy of my calls :)
Trade active: as mentioned above. 1560 (low of the day) for an additional 3-5% move.

3% achieved at day's low. Too risky to enter short now. Those who have already initiated position can hold tight as it can be a rollercoaster tomorrow!
Trade closed: target reached: Enjoy! Given analysis to short twice in 2 days

Related Ideas

Comments

Thanks bro.
I have entered PEL long at 1350, can you give some target
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EagleVision8 DeepakDGupta
@DeepakDGupta, Good entry point! You see trading for profits is always correlated to the time horizon and the price point of entry.
From a technical point of view, the bounce seems to have come from a Harmonic Bullish Bat PRZ zone. The logical target for a short swing trade seems to be at 1500 levels. 1550 if you're lucky and have a appetite to hold for longer. The Supply Zone as i have given in my analysis has to shift from the previous 1650 levels to about 1550 also taking into consideration the Behaviour of the market and levels where it is at. Always appreciate a follow and a like :)
Willing to help to the best of my abilities :)
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