For PEL we will use the strategy which includes EMA(exponential moving average). Now remember this is a long term investment so it would involve buying in small quantity and buy on dips.
Current Price action
CMP = 1012.15
1. EMA 9 = 1031.45
2. EMA 20 = 1030.85
3. EMA 50 = 1012.90
4. EMA 100 = 1039.00
Look to buy above 1042 for our next target 1158.75
Once this has been taken out we can look towards 1252.80
Then we move to our next target of 1346.80 which would play a significant role in price action. As long as price is trading above 1346.80, we should be able to achieve our next target of 1480.65 without much hassle.
Then on start booking profits and leave a less quantity for targets of 1651/1867 to be achieved.
Current Price action
CMP = 1012.15
1. EMA 9 = 1031.45
2. EMA 20 = 1030.85
3. EMA 50 = 1012.90
4. EMA 100 = 1039.00
Look to buy above 1042 for our next target 1158.75
Once this has been taken out we can look towards 1252.80
Then we move to our next target of 1346.80 which would play a significant role in price action. As long as price is trading above 1346.80, we should be able to achieve our next target of 1480.65 without much hassle.
Then on start booking profits and leave a less quantity for targets of 1651/1867 to be achieved.