PCJEWELLER trade ideas
Pc jwellers good days started?This analysis is totally based on Elliot Wave theory and Volume profile
As per Wave theory, We have entered into wave 3 which has just started.
Target 1(wave 3 completion) - somewhere around 75
Wave 4 should take it back to level 44 (Good support calculated based on Fibonacci and Volume profile )
Target 2(Wave 5) - ~ 160 range (based on fibo levels and volume profile)
RSI shows good momentum and has formed a triangular pattern. Breakout may trigger target 1 soon.
Disclaimer: This is for educational purpose and not a recommendation. Pls invest as per your study and analysis.
Cup and Handle Pattern in PCJEWELLERPCJEWELLER is forming a cup and handle patter on the weekly chart along the downward sloping trend line. RSI is also above 50 indicating bulls are in control. We will be watching for the signs of breakout from this line. A successful breakout would have a price target of 45 based on previous support/resistance.