📈 Needs to close above 1114 and stay there for the next stage of accumulation to begin. All levels given on the chart. Follow a strict Stop Loss at 953 or 10% below purchase price for higher safety. 🧿This one has legs....Buyback at 1250 complete by Mr. Piramal. Next up on a fundamental basis would be increasing retail footprint or sale of more ancillary biz to...
The stock is trading in a price range for the last five months. This time again at the lower levels. If able to sustain above 780 levels, may be bullish in coming sessions. The buy scenario is open only above 780. Keep it on the radar.
Only for learning and sharing purposes, not a piece of trading advice in any form.
All the best.
The chart shows that the stock price is again at the support levels. If bounces back, may go to 835/870. The risk-reward ratio is fine here. all levels are mentioned on the chart itself.
Only for learning and sharing purposes, not any kind of trading advice.
All the best.
PRL has formed a base at 785 - 800 levels and looks good to buy for a bounce.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Pel giving breakout on downtrend line and Bollinger bands, gaining good volumes too
Cause of Long
1- Downtrend line breakout
2- Bollinger band breakout
3- Seems good volumes
Reasons to go Long on NSE:PEL :
1.Made a Pole and Flag Pattern
2.RSI 50+
3.Fibonnaci Support
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.
NSE:PEL
Observations:
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.
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Trade Setup for 18-01-2022...
I'm looking for shorting this stock ,as price recently broken the daily swing low.. we could either sell from M15 OBIM or H1 BB or Sell from M15 Demand zone if the demand is broken and price retest it
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.
*NOTE
We are not SEBI registered.
Views shared here are for educational purpose.
Before Investing please consult your financial advisor
Key Highlights:
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.
![PEL: Simple Trade Setup | PIRAMAL ENTERPRISE | 18-01-2022 [INTRADAY]](https://s3.tradingview.com/j/JzNNMXFG_mid.png "Simple Trade Setup | PIRAMAL ENTERPRISE | 18-01-2022 [INTRADAY]")
