Pidilite industries crossed all time high and broken upward trend line and now in uncharted territory. I m buying for 8-10% of gain may be 20-25 working days....
MACD is also supporting the buying thesis...
Pidilite Industries has been rising up for some time, looking at open interest data some indication of top formation can be seen.
Sell below : 1443 Stop Loss : 1449 / 1455 (depending on your risk appetite)
Targets : 1434 - 1432- 1421 - 1411
Low risk trade would be to sell 1480 call above Rs. 16-17/- with a stop loss of 22/-
As there are only two...
It has completed a cup and handle chart pattern. If the price breaches 1425 then it will confirm a breakout. An upside of 100 point is expected on the breakout which is equal to depth of a cup
This scrip might move towards 1425 --> 1431--> 1439, where 1431 and 1439 are critical resistance. The critical date 2nd of January 2020(+/- 24 hrs) can change the minor trend. The support points will be updated later.
To join my TG, please ping me personally.
Regards,
Sharma Yogesh
PIDILITE CMP 1367 accumulate and buy in between 1350 to 1360 for targets of 1384 and 1424.
after long consolidation pidilite yesterday formed pin bar on day chart and today giving breakout with good volume
TREND ANALYSIS & TRADE SETUP
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX.
Wait for 2nd entry setup, if available then Long/short.
R:R is 5 to 10 times.
Pidilite going towards Weekly Trendline. Possible reversal from Weekly trendline.
Targets are shown in Chart
Targets Shown in Chart can be achieved by 3rd week of Sept.
WISHING EVERYONE HAPPY INDEPENDENCE DAY
Please have a look at the chart, Sl and Trg will be updated if prediction works, plan your trade accordingly.
Regards,
Sharma Yogesh
