s.arun.natesh

Pidilite - Stick to it - LONG

Long
NSE:PIDILITIND   PIDILITE INDUSTRIE
Profits will stick to those who stick to Pidilite. Afterall, the company manufactures Fevicol!. The Price action has an almost perfect setup for going long - double bottom , consolidation, a nice rejection candle with a long tail. Technical indicators are positive too - RSI Bullish Divergence among other indications. The blue horizontal lines are Gann Levels - an indicator that I published and use extensively for finding S/R levels. Will go long above !400. There is a trend line resistance at 1424.5 which is also a key level for W confirmation. Targets are 1456 and 1480
Comment: The breakout that was predicted came through and how! The stock has now made a strong green candle that retraced to 50% of the recent fall. In the process, the stock has broken the trendline resistance too. Reasonable to expect 1550 soon in the counter

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