In a downward sloping channel.
at 1550 , a very strong resistance.
Last 3 months trading in a very constricted band of 1350 - 1550.
Be careful if it trades below 1300.
One hand loses another hand gains. ;)
PEL share after taking the support of 1400 level once again going in upward move . Long entry can be taken after the BO of TL above the level of 1420 for the target price of 1454 with the SL of 1400 . Once stock cross the level of 1460 then the target price of 1480-1485 can be seen. So add the stock in your watch list to see the price action movement of the...
Price Is Consolidating In A Range ( 800-1000 )
High Volumes Are Coming On The Bottom Of The Range . ( Shows Buyers Strength At Below Levels )
Price Is Ranging Up With A Good Volume Showing Strength Of Buyers Are Intect On Higher Prices .
Highest Volume Traded Is At 936 That Would Be A Good Support .
In Lower Time Frame ( 75 Min )
Last Candle Given A High...
After a protracted downward move, PEL has been consolidating with an upward bias and is now attempting a pull back. As long as the price is able to hold above 980 levels, the momentum can be on the upside and the move can take the prices to 1260 levels. Short term moving average bias is in favor of a pull back.
The targets on the upside are given in the chart....
PEL gave a clear breakout from its triangle pattern and thereafter it came back to retest the trendline .
It is facing resistance at 960 levels and a candle closing above those levels can result in a further strong move.
Disc: Entered long on 21/05at 928 level. Exited 60% qty at 960. Holding rest quantity and trailing SL using ATR NSE:PEL