NSE:PIDILITIND
Observations:
1) On daily time frame, it sustain to stay above 2400 level as well as 50DMA which is placed at 2392.97 level.
We can say that 2390-2400 level is immediate support range.
And major support range is as 2300 level.
Also, it looks like it, on 11 Nov 2021, it gave breakout from parallel channel and on 12 Nov 2021 it tested this...
Pidilite Industrie Future
CMP:- 2482.50
SL Below:- 2361.25
Targets above:- 2569.00
A strong bullish daily candle which does resemble a Bullish Engulfing pattern.
The candle has stood strong above the 20 EMA which acts as a support here.
RSI has a sharp bullish reversal and has breached the 50 level.
PIDILITE Industries has been in my portfolio from the very beginning. I added this stock when I had no knowledge of technical or fundamental analysis but knew it was a monopoly stock and was in an uptrend. Bought @1773 and still holding it.
Hello There, looks like its time to book profits on pidilite industries so far,
It has given much returns on swings and long term, its time to book some sums.
once the stock corrects good it will be set to fly again.
triangle breakout in pidilite. usually asian paints and pidilite moves hand in hand so after asian paints we can expect this to rally too. stoploss and targets are marked on the screen. those who use bollinger bands can apply the indicator and also see a breakout.
The stock has formed the Dark Cloud Cover Pattern on the daily time frame and if it sustains below 2100 may test marked levels on the chart until 2160 is intact on the upside.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
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Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
![PIDILITIND: Simple Trade Setup | PIDILITE IND | 15-11-2021 [ INTRADAY]](https://s3.tradingview.com/f/frZAEjDr_mid.png "Simple Trade Setup | PIDILITE IND | 15-11-2021 [ INTRADAY]")
