PCJEWELLER trade ideas
PC Jeweller : Short Term Bounce ExpectedPC Jeweller is facing resistance at higher levels & has formed a Symmetrical Triangle.
Usually Triangles react as a spring & break either support or resistance.
Here we are seeing a divergence in RSI & also a Gravestone Doji type formation with the last candle.
I expect a short term Bounce towards levels of 260/266 within the triangle.
Buy with a strict SL of 241.
PCJEWELLER: IS HISTORY REPEATS!!!PCJEWELLER: @ 502.3
IS HISTORY REPEATS!!!
All are plotted in Chart.
Res.: @ 511, @ 516.6-520.5 (Hurdle Zone) , @ 531.2,
Sup.: 493, @ 487.7 - 486.4(Bounce Zone) , @ 472.7
SHORT & COVER as per Level (i.e RES. / SUP .)
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Disclaimer: Only For STUDY. For taking Trade Decision Consult Financial Advisor.
PC Jeweller Long The stock have broke the long term range bond
the range was from 2015 till date due to which it went spike so high , but for safe trade i must ensure the brake out stand still after retesting the brake out level
Waiting for retest and hold the level for entry
If stock holds the brake out level then can go up 650 as long term view
Regards
PC Jewellers- Do not forget-Golden stock.Target done 460-520Above 459 - do not forget this stock -it is gold- remarked at 14:45 Hrs -16th May2017. Post 500 -it can attempt 515-520 but emotions were stronger as compared to the vertical target line drawn in last update mentioned below.
Previous Update - 445 for 490 & above 500 for 515-520
PC JEWELLER - ASCENDING TRIANGLE FORMATION It is been observed that the price action forms an Ascending Triangle pattern on Daily chart. Now, a close above 450 levels will take the price action further up to 460-470 levels. It is wise to enter once the price action breaks the triangle formation and close above. I'm positing this chart before in order to provide you a good opportunity in advance.
Target 1: 460
Target: 470
Stoploss: 435
Regards
PC Jewellers - As Pure As Emotions-Break Double Top@445 for 490Wishing You All, A Happy Akshaya Tritiya which shall be celebrated on 28th April2017.
Consumer demand is expected to be strong due to the wedding season and traditional custom to buy gold on the occasion of Akshaya Tritiya.
Double Top Break Above 445 should take emotions to new high of 490-500 zone, but please keep a check on your emotions.
Crossing 500 -can attempt 515-520 zone & take a breather & celebrate Akshaya Tritiya with your near ones.
Previous Analysis - Old is Gold- 350 Holds