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.
The analysis is done on weekly TF hence price may take few weeks to few months in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock...
NSE:PEL
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 That Dash Line Is Called PRZ,...
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...
Break in Either side will give violent move in that direction.
According to the market sentiment it should break upside.
Stop loss below the Trendline and target recent highs..
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NSE:PEL
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
Piramal Ent is developing cup pattern and further, a trendline also showing some resistance. With the world market on bulls side, it is possible that we may see new ATH in this stock.
Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns...
3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
TREND ANALYSIS & TRADE SETUP !
WAVE ANALYSIS !!
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for ENTRY CONFIRMATION !
Risk:Reward: 4-5 times.
Piramal Enterprise Ltd formed a Rising Wedge on the daily timeframe.
Right now, the price has given a breakdown and is near a support/demand zone that previously acted as a resistance/supply zone.
![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]")
