PEL - Intraday breakout possible - descending triangleImmediate support placed at 1305 can break, giving a possible move downwards. If further move after round level of 1300 is seen, The trade is expected to make the 1300 level resistance in the coming sessions.
This is expected to be a short term correction as the stock has broken the descending channel in the higher time frame.
Sell below 1305
Targets cannot be specified as there is lot going on the fundamental side of things too.
This is not a recommendation, Its for educational purpose only.
Trade Safe!!
PEL
PEL - Bearish GartleyBarish Gartley observed in PEL. Also levels near daily resistance zone.
Wait for a strong terminal candle before entering.
I'll be entering (if there is confirmation candle) with a combination of put options as IV is high.
Views only for educational purposes. Do your risk assessment before entering financial positions.
PEL is Making Rectangle Channel Pattern (Breakout Trade)Piramal Enterprises Limited : Pharmaceutical Company ( NSE:PEL ) is Making Rectangle Channel Pattern (PATTERN BREAKOUT TRADE).
This can become a very good trade for INTRADAY traders.
Target + StopLoss: There is no target here. You keep the first target as much as the StopLoss you put. And the StopLoss will be the Low/High of the candle that broke this pattern. Or Low/High swing backward inside the pattern.
And as soon as you get a profit of 0.50% of your target, you will trail your StopLoss and bring it to the entry point. And as soon as your first target is hit, you will release half of your total quantity and continue to trail your StopLoss above the last swing Low/High.
Target and StopLoss are never already fixed in the chart pattern.
Thank you.
You always have to trade only by money management, position sizing, StopLoss trailing. This is the way to stay in profit.
Chart Published By Ravinder Sharma
A good swing trading opportunity PEL Ltd(Holding period 1 month)NSE:PEL
Formed an ascending triangle , perfect opportunity after a breakout wait for the prices to-hold above 1340 (Risk to Reward almost 3)and if wanna have a safe entry wait till horizontal resistance level break of 1355-1360 but this will decrease the risk but will increase the Stop Loss.(Risk to Reward 2).
Vansh Jejani
PEL : Trade SetupNSE:PEL
Hi Traders,
PEL is in sell zone and it is moving in downward direction with a bear flag. A bear flag pattern provides an extension/continuation to an existing downward trend.
Stock Analysis
* Stock has broken trend line.
* Stock has broken support line.
* Developed bearish flag pattern.
* Retracement of flag is less than 50% of its Pole.
Sell Level
Current price level
Target Level
TP1= 1143.20
TP2= 1044.10
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###Learn To Earn###
* This analysis is educational/learning purpose only.
* Trade at your own risk.
Trade well,
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PEL LONGTriangle with a positive breakout, in a retest phase.
Buy position: Risky traders can buy on Monday, moderate risk-takers can wait for the last kiss.
In both cases, Target is 1800 , so it will give you a great opportunity even if you buy a Lil bit late.
TARGET 1800
SL: 1476
YOU CAN BUY WITH A GREAT RISK to REWARD RATIO 1:7
SHARE YOUR VIEWS in the COMMENTS!!!
CHEERS!
I never trade with a RISK to REWARD ratio less than 1:4