looks great for positional trade , shows a good breakout from a trendline , pattern also replicates head and shoulder, entry would be great at 1520, stop loss 1366 with a first target of 1700
Good to buy above 1662. If price sustain over range 1662 then buy for 1st safe target 2000 and finally for new higher high.
Probabilities are high for big upside movement.
NSE:PVR
Trade Setup for Date 27-09-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up...
Ascending triangle formation...
Near resistance on monthly chart... if breaks the resistance and sustain then
1st target 1900+
2nd target 2100+
SL 1300 (WCB)
Weekly chart is also looking good...
Relaxation for theatre businesses to run across various states will trigger business giant PVR to break out from head and shoulder patterns. Can target 1800 and 2100 in medium-term.
EXPLANATION: This is a 4hr timeframe chart of PVR. The stock has been consolidating for the last 80 days in the tight range of 1300-1450. As a trader, We buy at the bottom and sell at the top. I am seeing a very good buying opportunity in PVR because of many reasons. It has formed a double bottom pattern near its major demand zone and went into tight consolidation...
Its Movie Time... :)
PVR looks ending its long running Wave 4 correction and shall soon start trading higher for bigger targets. View is invalid below 1230/-
As lockdown get uplifted in various states, Media stocks like PVR, Inox can move higher in anticipation of opening of their business.
The chart also forms a inverse HNS pattern, which is a good bullish pattern.
1250 is Good Support, and 1500 is the Resistance of the chart. You can Buy this stock at this level this is the Fundamental Good company. You can buy this level for the Investment Purpose.
So I posted 1hr analysis before this which was part-1, for early entry.
I am anticipating a close of above 1300 will give a boom in this stock.
for now on 1hr patterns we got 1hr W pattern breakout = a good move can be seen for a while then we can anticipate the 200dema breakout on D chart for further movement :)
PVR to take long entry above 1430 for the target price of 1545 with the SL of 1365. Very good risk to reward trade. stock is taken support & expected to touch the level of 1570. This is for pure educational ideas.
![PVR: Simple Trade Setup | PVR | 27-09-2021 [INTRADAY]](https://s3.tradingview.com/m/mI2E49O5_mid.png "Simple Trade Setup | PVR | 27-09-2021 [INTRADAY]")
