PEL trade ideas
Channel Pattern formed in PEL, go for shorting on MondayClear channel pattern formed in PEL. Next support at 1410 level
PEL 1DTHE STOCK GAVE FLAG BREAKOUT ON DAILY CHARTS AND HEAVY SELLING WAS SEEN FROM UPPER LVLS
THE STOCK IS BOUNCING FROM THE PREVIOUS FLAG RESISTANCE AREA MIGHT BE RETESTING
ANY BULLISH CANDLE WITH VOLUMES WILL BE A REVERSAL SIGN FOR THE STOCK
TARGETS WILL BE 1550 ,1600 AND 1700
THE VIEW WILL BE CANCELLED IF THE STOCK GIVES A CLOSING BELOW 1400 LVL
PELPEL Weekly RSI close above 55 + daily RSI > Weekly RSI + Daily ADX > 25, Momentum may be continuous from here. exit - Close below EMA_34 or Daily RSI close below 45 or Daily ADX close below 25.
PEL LOOKS GOOD FOR BUYINGPlease do your own research before trading or investing.
Lets how how market opens.
Happy Trading! Happy Weekend!
PEL 1D FLAG PATTERN AND CUP HANDLE BREKOUTTHE STOCK HAS GIVEN A BULLISH BREAKOUT OF THE CUP AND HANDLE PATTERN ON DAILY CHART
ANY DIP AROUND 1460 BEST BUYING OPPORTUNITY OR ONE CAN ADD HERE TOO
TARGETS:- 1520 INTRADAY AND MIDTERM 1600
SL:- 1445 CLOSING BASIS
Piramal enterprise - Long Entry (4/DEC/2020)Piramal enterprise - Buy side entry after breaking key level resistance area
Piramal Enterprises - Bullish BreakoutNote: This is for educational purpose only.
There seems to be a bullish breakout post build up near resistance. Volume is increasing and RSI indicates bullish momentum as well.
PEL SPOT POSITIONAL VIEWPEL SPOT chart is forming inverse head and shoulder pattern. Break out with closing above neckline may give the marked target to validate this pattern successfully.
VIEW NEGATED BELOW - 1369 (DCB).
PEL SHORTING#PEL on the way to 650 price or less in the coming days very soon.
P/E: -24.8
My view------------------------------------------------------------------------------------------------------------------>
Cup and handle pattern Classic cup and handle pattern is getting formed on a weekly time frame chart. aggressive swing trader can go long if price breaks the trendline @ 1492. Conservative swing traders can go long once price breaks the resistance line around @1600-1610. Target 1 @1800. Target 2 @2000.
PEL FLAG PATTERNS BREAKOUT DONE.PEL FLAG PATTERN BREAKOUT GOOD VOLUME
POSSITIONAL VIEW ABOVE 1501 CAN TOUTCH 1540 ,1590 +
PEL, INVERTED HEAD & SHOULDER BREAKOUT (CHART# 385)PEL has formed beautiful Inverted Head & Shoulder pattern on daily chart. Today's day close was above neck line.
PEL looks strong above neck line 1490-1495. It has weak resistance at 1515 followed by 1550.
Also keep PIDILITIND on radar which was posted yesterday and yet to give expected move.
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators. Reach out if you wish to learn powerful technical analysis based on simple price action.
Thanks
Piyush Gupta
pelNote:
• Avoid the stock if a big gap down is seen
• Enter after breakout happens and not before it
• Do not chase the market, i.e. do not get involved late entries
• Only enter with stritct stop-loss and target
• This is not a recommendation and is for education purpose 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
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Happy Trading!
