P C Jeweller Go Long for short term Holding Its observed that Neither buyers or seller are in full control of the Script , its No win for both party
the momentum can be expected once price hits Low of 365 , One can look for buy form 351 to 365 with Stop as 345 Target of 411 in short period , if price brakes below 345 then it will rebound from 311 so one has to make sure its heading up trend before entering Long
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PCJEWELLER trade ideas
PC JEWELLER: UP MOVE MAY BE HUGEPC Jeweller Limited started operations in April 2005 with one showroom at Karol Bagh Delhi. It is a first generation business promoted by two brothers.Stock has been consolidating in a range and after correction trying to go higher.Idea is to buy above 388 and put a stop loss to 380 for a quick target of 405.This is some what very short trade.Move the stop loss to break even once crosses 395 and look for 405.For positional trade keep stop loss at 369 levels and look for the target of 425 within days to come.
P.S. ------- This is not any recommendation to buy or sell. It is for educational purpose only. Money market is risky. Talk to your financial adviser before any investment decision.
Wish you all a very happy and profitable trading. Thanks !!!!
PC Jewellers- The jeweller kisses 425 & turns down- What Next?From previous update 425 & above, it could extend till 435-445
Wave-((y)) travelled 78.6% of the wave-((w)) - & jeweler turns down just below 425 that was the recent high.
Trading Strategy
Going below 380 -some pressure could be seen in the stock for swing low@350 as possible support & break of 350 could take jeweler deep down.
PC Jeweller- Amazing!
PC Jewellers- Amazing! --Will it be heading for the 435-445 zoneAs per the long term strategy suggested in the update "Bullish against 350"--PC Jewellers had a fall exactly very close to 350 & bounced so next update- "PC Jewellers played "Kaipidi" with 350- Bang on move"
As suggested in long term update - it could head to 435-445 where it retraces 61.8%.
What Next -
If sustains above 409-411 zone likely heads next to 422-425 zone & above 425- to final target zone 435-445.
Click the charts below & use load bar feature to see future bars
Update-1
Bullish against 350
Update-2
PC Jewellers Played Kaipidi with 350
PC Jewellers- Played "Kai-pidi" with 350- Bang On MoveKabaddi- originated from the Tamil word "Kai-pidi" means to hold hands. Most of us have certainly tried our hand at the game at some point in our lives & lessons it gives to all of us- if closely inspected- they are even required for trading financial instruments in markets as well.
Lessons like- Overcoming your fear, Enhance your presence of mind, Pay attention to small things & finally -fighting with the right attitude.
Short Term Bottoms in the zone 350-352
350- a key level works wonders & turns upside from 352, giving us vital information-what is that- It has become critical support for future sessions because that level has been holding for quiet a long time & bulls are returning back close to 350's.
Trading Strategy
Going below 350 -now for sure "PC" will have future problems. Short term opportunity could be seen once it starts moving back below 380 marks-so seller's could be interested as this move from 288 lows is all choppy & corrective in nature.
Bullish Against 350- Click The Chart & Load the Bar
PC Jewellers- Bounce from 290-305 thrice-Bullish against 3503 times bounce from the zone 290-305 zone has formed good support- so, it has started a new leg upside which is again choppy & likely into its Y- wave above 350 which has upside room to kiss the zone 435-445 where it will retrace 61.8% of the fall from 531 highs.
Largely the trend is down so we will look for a push down in couple of months down the line- if it starts moving below the key level-350
Short Term Trading Strategy
Look for an upside move in the zone 410-415 once it sustains & holds above 380-385 zone where it retraces 50% & going beyond 420's can extend to 435-445 zone which should likely get some resistance
Long Term Trading Strategy
Shall be looking for the zone 435-445 if it travels that could face resistance & I shall search for selling opportunity or safe traders could wait for a break of 350's in the future for taking sell positions- in that case likely it will travel below 288 lows & make a new low going into the first half of 2017.
Target 460 in very near FurturePCJEWELLER is opening more and more new stores which help them to gain movement in market. The fundamentals are strong. The near support is available at 415 and resistance at 460. GO LONG with pcj. If it gives breakout near before such level it create new highs for investors.