rahul.u.bhagwat

PEL : Power Breakout...

Long
NSE:PEL   PIRAMAL ENTERPRISE
PEL has been in a strong uptrend since April 2017.
It started consolidating since 13th June & is now in a Tight Range.
A symmetrical triangle is formed, with Bollinger Bands squeezing.
The Divergence in RSI show a sharp upmove is expected.

However, i think weak hands will be shed before this upmove, so here patience is the key.

GO LONG with a initial Target of 3025/3088. If you have a little liberal trailing stop, the Next Target of 3400 from a short term view is quite possible. A mid Term Target of 3800 is Expected in this counter.

Keep initial Stops at 2860 & ride the trend.

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