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Pidilite

Pidilite Industries- My first trading ideaHello everyone, I am Kalpana Burman , this is my first trading idea on this platform. Please do like, follow and support me so that I can work harder and give better ideas to this community. Also, please feel free to engage in the comment section. Analysis:- As this stock has retraced at 61.8% from its low, this can act as strong resistance for the stock. For upside, the stock has to move above 1520 levels and hold above it for 1603 levels. Plan A for upside - Wait for decisive breakout and hold above the resistance line. Plan B for the downside - Wait for a small swing towards previous recent high around 1520 levels and then the breakdown of the channel. Or simply wait for the breakdown of the channel. We will look for divergence in the RSI as well. The easy target is 1427 level and if goes below that then 1328 is achievable. If rejected at resistance, aggressive traders can enter with proper stop and protected trade setup. Thank you, please do support. ~ Kalpana
NSE:PIDILITINDShort
by KalpanaBurman
34
Pidilite Industries - Signs of topping up can be seen.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 weeks to expiry, Call Premium will erode faster even if price does not fall much. Please don't take this or any suggested trade blindly, consult your financial consultant and carry due diligence on your own. Consider hitting the like button below this chart, if you find it worth, you may also follow me for more of interesting ideas / suggestions. i2gain.
NSE:PIDILITIND
by ipuneet