PEL LOOKING A GOOD BUYPRL 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
Piramalenterprises
Piramal Enterprise Short Term TargetsThe FASP for Piramal Enterprise is listed for 22-12-2022 . You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities.
What is Fibolysis Anchor SupRes Points(FASP)?
It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds.
Validity of the levels: Up to 6 Months
How to use these levels?
The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options.
Color Coding: Green is regular support and buying area, Red is strong exit area
Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE PEL Is Preparing for 2400 - 2301Targets:
Traders can initiate short positions for the following targets:
2400 - 2376 - 2301 - 2279
BUT DON'T TRADE BLINDLY . Read this following research to get how it is making selling opportunities for the intraday traders.
PEL is forming a double combination pattern on the 4-hour timeframe chart. Price has constructed LL(lower-low) and LH(lower-high) to confirm the bear's existence.
Wave Formations:
Wave (W) is a double zigzag formation with seven wave structures.
Wave (X) is a contracting triangle with five sub-wave structures.
Wave (Y):
Sub-wave wave A & B has occurred, and wave C is progressing.
Sub-wave B has completed at 61.8% Fibonacci retracement of wave A at 2531 .
The culmination point of wave C:
Wave C can end at 61.8% of wave A at 2279 .
Wave C can cease at 50% of wave A at 2333 .
Wave C can conclude at the control line, and 61.8% of wave ((w)) at 2376.
After completion of wave C, the price will start its bull run.
