Stock Name - Pidilite Industries Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 2826.
#This is not Buy and Sell recommendation to any one. This is for...
Short 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...
Short 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...
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...
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
Good is looking weak at these levels and one can look for the short opportunity if sustains below 1710. Targets and SL are marked on the chart.
Happy Trading!
InvestPro India Team
NSE:PIDILITIND
if one can find reversal then short it for intra and then on trailing basis for swing as well but remember short only on strictly reversal as per your trading set up. as two lines one can see at D point of pattern are PRZ ( price reversal zone ).
******whatever charts or levels sharing here are just for...
Note: This is for educational purpose only.
There seems to be an ascending triangle bullish breakout with ultra high volume. Moreover, RSI above 65 indicates bullish momentum.
![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]")
