PVR Cinemas is a film entertainment public ltd company in India. (You know very younger and trend of younger )
REMARKABLE points are the following:
the primary trend is an uptrend.
up trend from 2013 to 2019 (in continuation)
retracement support @903 nearby with 38.2%
suppose, if you have seen 750 in price then fall will -64% fall...
Since the stock has been continuously trading in a small range, there is a very good chance for the breakout to happen. This is an intraday trade and can be taken on either side depending upon the market on 12 oct
Buy above 1280
Sell below 1250
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not...
a. Zone: Weak Bull
b. Resistance 1: 1435.25
c. Resistance 2: 1464.50
d. Support 1: 1054.40
e. Support 2: 995.85
Though it is bouncing from the crucial support yet with the weak strength. So one should wait for the confirmation before entering into this.
PVR is looking weak and is a good candidate for short selling in tomorrow's session. This is a stock from my personal watchlist for intraday. The overall trend is bearish in PVR and so I am looking for selling opportunities in PVR. Volume has expanded whenever price has moved lower suggesting the bias of strong players to be negative. Always trade with the strong...