PEL --- sHORT BELOW 823...INTRADAY TARGET 812...SWING T1 -764 T2 - 606
REASON...MORE OI REDUCE ON SHORT SIDE....
0.618 RETRACEMENT BREAKED
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Good bullish divergence made in pel
Buy above 1225 for 1235,1255,1300
Sell below 1190 for 1180,1160,1100
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Pel closed near Fib level 0.78% major support zone with bullish spin bar with double bottom structure
Above 1320 for 1330,1350,1400
Below 1280 for 1270,1250,1200
Critical Zone- 1280-1320(sideways)
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PEL after double bottom - during retrenchment, did't cross confirmation level and also reached lower than first bottom in double bottom pattern.
As we can see currently PEL is critical long term support (from Jun 2016)
We can expect bounce back or further fall if breaks support level.
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TREND ANALYSIS & TRADE SETUP
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Ok so, got confirmation by abhishek bhai.. I will gonna take entry on Monday, looks good for first around 3% and then around 16% is possible in this script according to support and resistance.. it can go move upside, actually it already has made bullish reversal and now continuation after this last pullback on daily chart, Sl is just below this current...
