Will Pidilite break the resistance?Pidilite is on the verge of breakout after testing the resistance multiple times.
The range of 2530-2550 acted as resistance for this stock multiple times in the past and there is a good chance of breaking it to reach it's previous ATH level.
Scenario 1
Once it sustains above 2550 an up move can be expected to the range of 2750.
Scenario 2
In case the stock fails to give a breakout, support is in the range of 2400-2450. An up move can be expected from here after a bit of consolidation.
Please perform your due diligence before taking a trade.
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Pidilite
Pidilite Industries for InvestmentNSE:PIDILITIND
Head and Shoulder Pattern Breakdown. Avoid buying here.
Major Support at 1900, followed by 1800 levels.
for Long Term Investments, follow the channel pattern.
Entry Price- 1800
Target1- 2200
Target2- 2500
Pidilite Industries is leading stock in chemical sector as well as it is a consistent performer.
NOCIL LTD IS LOOKING GOOD FOR A POSITIONAL TRADE.NOCIL LTD HAD CORRECTED 40% FROM ITS TOP
And it is ready to give a huge run-up of 27%
FUNDAMENTAL REASON
1. China had stopped its supply throughout the world so India is expected to fill those requirements and the company is in the chemical business so there would be a huge demand in the coming future.
2. We could see some huge movement today and this kind of movement is usually made by big institutions so Big institutions might be investing in this company.
3. Because big investors are buying into this company it might show some good results upcoming.
TECHNICAL REASON
1. The stock had recently given a breakout of its 2 important moving averages (50,200).
2. The stock had formed an inverted head and shoulder pattern and it is ready to break the pattern.
3. And if you see the RSI we could see a bullish divergence in the RSI.
4. The stock had taken support from a trend and it has given a big movement.
SO, AFTER THE BREAKOUT OF THE NECKLINE WE SHOULD MAKE SOME POSITION IN THIS COMPANY
Pidilite Industries - Short OpportunityShort Opportunity-
Pidilite Industries has formed Inverted Cup & Handle pattern, which indicates that there will be bearish movement expected. This stock retest at neckline Rs. 2384.00, if this stock first candle closes below Rs. 2384.00 level then we can enter this stock. The CPR is narrow and at the downside. Also, MA is headed to the downside. The CCI is near -100.
But we have to be curious because the international market is bearish and very volatile. Let the market settle and only then we can enter.
Pidilite India - Short OpportunityShort Opportunity -
Pidilite has made the head and shoulder pattern, but the pattern is yet to complete. It has strong support on rs. 2423.70. If this stock crossed this level and retests it, there will be a strong bullish movement we can expect. The CPR is narrow and at the downside and CCI is near -100 level, so both indicators are indicating a downtrend. But be cautious before taking any call as the market is very volatile and nowadays it is giving movement in an opposite direction. Give them time to settle the market and then we can enter.
PidiliteImportant Investment levels in case of Crude price pressure...
Fundamentally very good stock. Keep accumulating...
Study based on purely technicals....
For clarity have marked on weekly charts.
Lets Revisit this chart every week...
Will update more info as the movement happens in comment section..
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Breakout in Pidilite Industries...Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Pidilite Industries - Continuation of Bearish trend.
The bearish trend for Pidilite Industry is continuing for the last 7 sessions. It is testing the immediate support level around 2186. If it breaches the immediate support level with a bearish candle, further fall in the scrip is expected with high volumes.
Simple Trade Setup | PIDILITE IND | 15-11-2021 [ INTRADAY] 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 breakout.
Now if it sustain above 2400 level and this parallel channel then we can see up move to continue.
Major breakout level is 2480 level. Above this we can see good upmove.
Please refer below chart : 1 day Time Frame.
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Trade Setup for Date: 15-11-2021
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.