ani147

PARIMAL ENTERPRISE MAJOR BREAKOUT

Long
NSE:PEL   PIRAMAL ENTERPRISE
Breaking long term resistance , formed symmetrical pattern and now forming cup and handle pattern in weekly frame.
target time frame (4 to 6 months)
entry - 2100
Comment: 1st target achieved, move sl 2270

Comments

I believe in the above chart Handle is yet to be formed. Please correct me otherwise. If yes, we can expect a downside in coming weeks.
Reply
ani147 debashish4u
@debashish4u, yes handle is yet to be formed and have already mention probable entry level.
it can go sideways ,I don't think we can expect downtrend in coming weeks, as their is two major support level already mentioned in the chart.
and moreover currently their is major momentum peak , one can ride this trade for few days and can make profit.
PLEASE DO YOUR OWN ANALYSIS BEFORE MAKING TRADE, THIS IS ONLY FOR EDUCATION PURPOSE ONLY.
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