PVR has been running sideways for months after declining for a long time.
PVR is making a W pattern during its sideways run and accumulation phase.
Now, PVR is showing good bump in price along with rise in volumes. This sounds like a promising situation.
First target is 1450 which is also a point that will give a breakout from it's consolidation zone.
CMP: 1397
Breakout Point: 1450
SL:1350, revise it to 1445 when price crosses 1500.
Target: 1590 and beyond.
Stock can be bought at its breakout level. But investor has patience for medium term then even CMP seems good to buy on, as the volumes are strong and are reflecting high probability for breakage of breakout level.
Remember: SLs are essentials.
Disclaimer: I'm not a registered analyst. I'm just sharing my opinion on the platform for others to benefit in learning from my market understanding. Please do your due diligence before making a trade.
PVR is making a W pattern during its sideways run and accumulation phase.
Now, PVR is showing good bump in price along with rise in volumes. This sounds like a promising situation.
First target is 1450 which is also a point that will give a breakout from it's consolidation zone.
CMP: 1397
Breakout Point: 1450
SL:1350, revise it to 1445 when price crosses 1500.
Target: 1590 and beyond.
Stock can be bought at its breakout level. But investor has patience for medium term then even CMP seems good to buy on, as the volumes are strong and are reflecting high probability for breakage of breakout level.
Remember: SLs are essentials.
Disclaimer: I'm not a registered analyst. I'm just sharing my opinion on the platform for others to benefit in learning from my market understanding. Please do your due diligence before making a trade.