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 -...
The stock has seen a nearly 10 day consolidation and has reversed to 38.2% from the previous high. On the weekly chart, there is a nice double bottom and indicators have turned positive. Other indicators like MACD and Ichimoku are also bullish.Currently the stock is at a resistance level. Market Facilitation index is also confirming a trend reversal. Any break...
We have watched the stock for sometime now and it has confirmed its intent of moving in an upward trajectory. Having broken, the stock retraced and came back to find earlier resistance as support. Also, the price is now above the Ichimoku cloud - a bullish sign... The tide seems to have changed. I will be going long above 360 with a SL of 330 and a positional...
Mad bull or not, we are projecting higher and that is more important.
Observations
In the longer term chart it can be observed that each time we started a fresh wave after making a base, it ended at a precise Quad level. Sharp reactions can be seen near those levels. We can expect similar targets for wave 5. If that is the case, the projected target could be...
