PGHL
PGHLPGHL:- Ascending triangle pattern has formed, wait for breakout, till then keep an eye on the stock
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As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
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Ajay.
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Procter & Gamble Health Limited : A good Stock to hold Procter & Gamble Health Limited is an India-based company that is primarily engaged in the manufacturing of pharmaceutical products. The Company provides healthcare products. It is involved in manufacturing and marketing over-the-counter vitamins, minerals, and supplements products for a healthy lifestyle. The Company offers brands, including Cosome, Neurobion, Livogen, SevenSeas, Evion, Polybion and Nasivion.
The Stock was moving in a range Since Mar 2022. It has broken out this range with a Strong Healthy Green Candle and large Volume. Currently the stock is retesting the support @ 4977.30 and may now start the uptrend if the support is not failed.
The technical Indicators are in favor of Uptrend and the movement is supported by a the GOLDEN CROSS OVER
The Targets and Stop Loss Are as mentioned in the chart. We may see the good Movement from Today itself.
Good Luck !!!
PGHL: Elliott Wave TheoryThe PGHL is in the correction phase of Elliott Wave.
Last wave (5) has been over at 7472 levels and 9 months was time frame. Further, ABC correction started, A is about to complete this month (Nov-21) with 61 % fib retracement from Top levels (7472-2891 = 4581 * 61.18% = 2802; thereby, 7472 - 2802 = 4670 completion of wave (A)) with the same time frame of 9 months.
Wave (B) will be from Dec-21 to Aug-22 from the 4670 levels to 6383 levels.
Wave (C) will begin in Sep-22 from 6383 levels and expected to complete in next 9 months by May-23 at 4670 levels.
This will complete the cycle and a new progressive wave cycle will start after Jun-23. I will keep posted.
PGHL (Procter & Gamble Health Ltd) || Elliott Wave Analysis |PGHL Monthly Chart Analysis
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1) PGHL is trading at the approx 29 % discount value from the all-time high.
2)Since the last three months, it has been consolidating in the range (Marked in the Red Box).
3) Upside Range break out is an entry trigger.
4) Daily Close below 5100 is Stop Loss.
5) Fibonacci Projection of .618 of Wave 3(i.e point 2 to point 3) from our assumption of Wave 4 low(touching the lower trendline), gives a target for Wave 5 as 8038
6) Favourable Risk to Reward approx.(1:10). 4% stop loss, 48 percent target
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Please note that Daily volume is not very high in this Stock, so it is a very volatile stock.
* I am not a registered analyst.