Reasons to go Long on NSE:PEL :
1.Made a Pole and Flag Pattern
The only Problem here is that the TF used here is 1 Hr so the TGT/SL can be met 2-3 days only or even Intraday! buy only in the given range or else you may mess up the R:R.
1) On 1 day time, we can see it made trianlge pattern. And also made bullish candle from 100DMA.
100DMA will be immediate support now.
100DMA is placed at 2638.56 level.
Immediate breaout levele is at 2675 level now.
Please refer below chart : 1day Time Frame.
Trade Setup for 18-01-2022...
PEL short term views
Short Sell Opportunity in this stocks.
NIFTY is also weak and shorting only after getting rejection from 2500 levels.
Previously that was acting as Support now that becomes Resistance for the trade.
We are not SEBI registered.
Views shared here are for educational purpose.
Before Investing please consult your financial advisor
1. Bullish market structure - HH, HL
2. Volume expansion
3. Trendline breakout
4. Breakout & retest done
5. Support zone 1527-1624
6. Forming Inverse Head & Shoulder
7. Target: 2225, 2700, 3233. Stop Loss: 1585
8. Time frame: 3-6 months
You are always advised to use an appropriate Risk-Reward ratio as per your strategy.
P.S: This is...
ts gonna be a bullish day for pel. the buy entry point is mentioned in the chart buy above only if it closes above it. targets 1,2,3 are given. stoploss can be placed below trendline. the ideas which iam giving here is meant for educational purpose.if you like my analysis like,share and follow me for daily intraday analysis.
long only if you have idea what is reersal id find reversal in this stock then only go long
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.