binuppaul

PIRAMAL ENTERPRISES- PULL BACK RALLY CAN EXTEND TO 1260

Long
NSE:PEL   PIRAMAL ENTERPRISE
After a protracted downward move, PEL has been consolidating with an upward bias and is now attempting a pull back. As long as the price is able to hold above 980 levels, the momentum can be on the upside and the move can take the prices to 1260 levels. Short term moving average bias is in favor of a pull back.

The targets on the upside are given in the chart. The stop loss to be observed on daily closing basis is also mentioned in the chart.

Note:

The first version of this analysis appeared in the educational blog of Center for Research in Asset Markets and Economy (CRAME), Christ (Deemed to be University) Lavasa

DISCLAIMER

The content provided in CRAME blog is for educational purposes only. CRAME or the analyst(s) do(es) not assume any responsibility for the financial decisions/actions made on the basis of the analysis presented in the blog.

Analysts

Prof. Binu P Paul PhD
Prof. Soumya V ACSI
Trade closed: target reached: First target as per chart done. Those in long trade book part profits. Momentum support can take the prices to the targets mentioned in chart

Comments

Hi, As the scrip on the 26-5-20 closed on 907, Hence stop-loss hit.
Reply
binuppaul brijeshb30
@brijeshb30,

Reentry always once the entry condition is met. It regained the entry condition.Take a look at from where the prices rallied recently
Reply
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