CautiousChartist

PRAKASH PIPES - Awaiting Breakout !

Long
NSE:PPL   PRAKASH PIPES LTD
Self Explanatory Chart.
A rising wedge which contains a consolidation (retest) after a breakout from round bottom / inverted head and shoulders formation.
Trade active: This stock formed 3 doji candles and ended last week with a red candle indicating weakness.
However, despite a weak index opening today, it closed positively.

If the strength continues , it would cross 140 for the desired targets, however if in doubt raise the stop loss to 130-134.
Comment: TARGET 3 ACHIEVED AGAIN

Comments

@CautiousChartist Good to enter at current levels(133)?
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Hello, any update on the direction of this scrip? I have bought it at 140
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@akmarket47, Trail the stoploss to 134. This script got a tad weak last weekend but today's move cannot be treated as decisive either.
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