NeeteshJain
Long

Pidilite Ind - Breaking to new "All Time High"

BSE:PIDILITIND   PIDILITE INDUSTRIES LTD
It has been observed on the Weekly chart that the price action breaks above the strong resistance zone of 830-35, which now indicating a new all time high and also shall further move up.

The company has been working well with strong growth, which also eligible for investing.

Target1: 855
Target2: 865

SL1: 830
Comment: The company continues to grow and increase their revenues, indicating a strong market presence. Here is a link to a research report from Motilal Oswal for your reference.
http://www.motilaloswal.com/site/rreports/636371806346385024.pdf
Thanks
Trade active
Trade closed: target reached: It reached Target 1 successfully. Thanks
I waiting for this breakout from last week but two times tried to break and sustained above 850 but some how getting failure, A good volume need for this breakout let's see what happens next, very good catch
Reply
@atin28, Yes, it shall work well. Thanks
Reply
SIR PLZ CHECK DIVERGENCE WITH VOLUME AND RSI. IF WRONG SORRY.
+3 Reply
@ved8890, i dont find any divergence with volume and RSI..can you pls explain with chart
+2 Reply
ved8890 jayadeepreddy
@jayadeepreddy,
1) RSI =
on the Weekly chart that the price close 828.55 on 19/6/17 that time rsi is 79.6035
now
on the Weekly chart that the price close 843.15 on 28/8/17 that time rsi is 68.5153
2) MACD
on the Weekly chart that the price close 828.55 on 19/6/17 that time MACD HISTOGRAM is 11.3845
now
on the Weekly chart that the price close 843.15 on 28/8/17 that time MACD HISTOGRAM is 0.2693
3) VOLUME
on the Weekly chart that the VOLUME IS DECREASING FROM 17/7/17 TO 28/8/17
Reply
@ved8890, I was looking at daily chart as neetesh ideas generally would close with in 1 week to 10 days max. Even if we go by weekly chart rsi and volume have corrected along with the price action in the first week of August and the same have moved along with the price since then. And to top it off the stock has reached T1 today and the . So I guess Neetesh was right with his idea.

Also one should note that only technical analysis doesn't predict a stock price. There was some news about the stock and that's the reason why it made a new high today.
+1 Reply
ved8890 jayadeepreddy
@jayadeepreddy, PIC LINK
http://prntscr.com/gkbm2x
+1 Reply
@ved8890, In trending stocks, RSI, MACD or Divergence do not do well. Thanks
+2 Reply
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