FAHEEMSAM

PEL - Intraday breakout possible - descending triangle

Short
NSE:PEL   PIRAMAL ENTERPRISE
Immediate support placed at 1305 can break, giving a possible move downwards. If further move after round level of 1300 is seen, The trade is expected to make the 1300 level resistance in the coming sessions.
This is expected to be a short term correction as the stock has broken the descending channel in the higher time frame.

Sell below 1305

Targets cannot be specified as there is lot going on the fundamental side of things too.

This is not a recommendation, Its for educational purpose only.
Trade Safe!!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.