Pvr Can Show a Good Show

Jul 14

Hi friends i am meeting you people again after many sessions and i hope all are you dong well, So here i am sharing a daily chart of Pvr Inox as i observed a resistance breakout which is a triple bottom pattern neckline too and as of now price retested that resistance as support this time so we can say a breakout retest also completed after breakout. As long as the price sustains above this resistance there is every possibility that it will reach the next resistance which i am considering as my target for this trade and marked on provided chart too and if this resistance based target will breached we can see further upside towards 1720 levels as well.

Support- Resistance which price breakout recently now acting as good support as we can see it worked good at the time of retest too so i am also considering this as a support for this trade idea on clsoing below basis.

Sharing my this idea for only educational purpose by this you can identify triple bottom pattern or it's breakout it is not of any kind of trading advice included in this publication.

Best regards- Amit

Jul 24

Trade active

As you all know, after publishing this idea there was profit booking and selling pressure in the Indian markets due to the upcoming budget and PVR's financial results for this quarter were also not good and perhaps due to all these reasons price gives a closing below the support, One more reason I feel which I want to share with you is that I feel I had set the stop loss too small in to the target ratio. But it was good to see that ignoring all these things the share price showed strength and today once again closed above the resistance. Therefore I am activating this trade again from today and from here the only thing to be seen will be that now the price will first break the resistance of 1510 or will go down again and test the support. I will try my best to keep you all updated.

Sep 5

Note

Trailing stop loss update- Price reached 1568 from 1476 published and trade activation price too according above shared update so now i am moving my stop loss to my entry price because market seems not much stable and having volatility too so it is looking a good idea for me althoug it gained more then six percent so far but as i have given much time and follow up to this trade so i want see my marked target as a discipline trader and will wait for it sure.

Tecnical view- So today's candle breaking highest price after this publication and it is it's swing top too after so if price will close above this resistance we can see marked target soon in coming sessions and this resistance could act as support now sharing chart snapshot below for understanding, Thanks for reading and supporting my idea mates.

Sep 13

Trade closed: target reached

Reached 1636 (Target) from 1476 gained more then 10% by this trade idea, i am looking more upside in this counter from here too but closing this publication will share a new one. Thanks for reading and supporting my idea friends.