#PEL CASH : Looks good on close above 1750.10#PEL CASH - Advance call
19.05.2021
Looks good once close above 1750.10
stoploss 1700 Tgt 1840/2000
Cmp 1687
PEL trade ideas
PEL: piramal enterprise positional trade.this trade analysis is based on data and computational maths which picks when and how big players are buying.
The data shows the stop loss is very minute and profits are huge.
can take position sizing keeping in mind a stoploss of 1600.
PEL BUY Clear chart. PEL facing trendline resistance, could give breakout. Buying seen from couple of days in increasing volumes.
Levels are given, happy buy:)
PEL - SYMMETRICAL TRIANGLE (FLAG & POLE)A Symmetrical triangle is a clear cut indication of consolidation followed by a breakout.
Note:
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not chase the market, i.e., do not get involved in late entries
Only enter with strict stop-loss and target
This is not a recommendation and is for educational purposes only.
always follow risk-reward and quantity management for the 100% of the times
The above mentioned idea may not work, so beware of the risk you are taking
Follow me to Learn and Earn with me.
Happy Trading!!
A Simple Breakout expected in Piramal Enterprise!NSE:PEL earnings result might cause the Upside breakout move.
PEL Setup tradeSELL below 1661 TGT 1610 SL 1684 . Once stock BD the support level we can enter in the trade. RSI is also going towards below 40 the sign of bearishness. This is for your educational purpose only.
End of corrective action ?Close abv 1770 might resume uptrend. It's a classic breakout and retest pattern . Volume has dropped in fall. Moving average support is there.
Disc : it's not an investment advice to buy or sell
Swing Opportunity in Piramal Enterprise Go Long above 1715.9 for targets of 1777.4, 1838.85, and above with SL 1654.5
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level.
2. Also a bullish candlestick pattern, Bullish Engulfing (marked with an orange circle) is formed at 0.5 Fibonacci level.
3. Also there is a demand/ supply zone (marked with a blue rectangle ) around 0.5 Fibonacci level from which initially the stock was facing resistance in this zone and now this zone will act as support to the stock.
PEL, can go up to 1600 or below tg1-1600, tg-2 1587Despite of today positive market, PEL broke its support zone and can go upto 1600 as this level have strong support as per option chain.
