Long PIIND - Target 5800PIIND on weekly chart is forming Inverted Head and Shoulders Pattern.
The stop loss is low of the Head.
Target 1 - 4800
Target 2 - 5300
Target 3 - 5800
Piindustrieslong
PIIND: Channel Breakout Above 3840Details:
Asset: PI Industries Ltd (PIIND)
Breakout Level: 3840
Potential Targets: 4000, 4500, 4700
Stop Loss: 3740
Timeframe: Short to Medium Term
Rationale: PIIND has broken out from a well-defined ascending channel on the daily chart. The breakout above 3840 is supported by strong volume and bullish price action.
Market Analysis:
Technical Setup: Sustained breakout from the channel with follow-through buying indicates strength.
Sector Trend: Agrochemical stocks are witnessing renewed interest due to strong demand and monsoon expectations.
Risk Management:
Stop loss at 3740 to protect against false breakout or trend reversal.
Risk-Reward Ratio:
Favorable, offering a potential return of 1:2.5 or more based on targets.
Watch for strong daily closes above 3840 and increasing volume for confirmation of trend continuation.
PI INDUSTRIES | LOOKING A GOOD BUYAfter a sharp fall on 12th December, PI Industries is consolidating and trying to take support near it's demand zone, if sustains above 3270 it can again go towards 3850 odd levels.
Buy trade can be triggered near demand zone for the targets marked with green line on the chart.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
