vimal.kr.pathak

PEL : Trade Setup

Short
NSE:PEL   PIRAMAL ENTERPRISE
NSE:PEL
Hi Traders,
PEL is in sell zone and it is moving in downward direction with a bear flag . A bear flag pattern provides an extension/continuation to an existing downward trend.

Stock Analysis
* Stock has broken trend line .
* Stock has broken support line.
* Developed bearish flag pattern.
* Retracement of flag is less than 50% of its Pole.

Sell Level
Current price level

Target Level
TP1= 1143.20
TP2= 1044.10

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###Learn To Earn###

* This analysis is educational/learning purpose only.
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Comments

should we take the trade at 9.15 or wait??
+2 Reply
vimal.kr.pathak sudarshan0411
@sudarshan0411 wait for price action
Reply
I don't think it will fall more than 1210 1240.
There is a huge support and in this stock, most of the time chart fails and when market supports it booms .
+1 Reply
@at1996 In stock market, different person can have different view on same stock. This is my view and I welcome your views too. Thanks for your suggestion.
Reply
at what peice the trade should be taken?? what if it opens gap up or gap down??
+1 Reply
vimal.kr.pathak sudarshan0411
@sudarshan0411 if gap up or gap down then wait for retracement and enter when price develop lower low on 15 min.
Reply
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