Piramal Enterprise For Next Week

PEL

Analysis after 9th dec 2022 Closing

Double Bottom Pattern - DB with Bullish Divergence on MACD & RSI (BULLISH)
Weekly TF - There is inverted hammer candle on resistance (BEARISH)
But still there is no bearish Revered divergence means Buyers still have potential to breakout

Entry
Either on Higher Low for early entry or,
Wait for breakout of red resistance line.

Ignore study if There is huge GAPDOWN.

Comment:

It Seems like HH is Formed.
if you want to take early entry you can take with Stop loss of 838 Rs.

Comment:

Just noticed,
Successfully Breakout Resistance line.
We can buy now or add more position if you already long.

Have Good Day!!