PIRAMAL ENTERPRISES LTD.
1,279.25INRD
−26.70−2.04%
At close at Jul 25, 11:11 GMT
INR
No trades
PEL trade ideas
PEL BREAKOUTPel is looking good after breaking a parallel channel resistance and sustained above very well so we can consider it is a breakout and can go long for the target of 767 and 780 with a stoploss of below close of channel resistance on daily candle and that is 723.
𝑵𝑶𝑻𝑬- 𝑶𝑵𝑳𝒀 𝑭𝑶𝑹 𝑬𝑫𝑼𝑪𝑨𝑻𝑰𝑶𝑵 𝑷𝑼𝑹𝑷𝑶𝑺𝑬
PEL BEARISH WITH A DOUBLE TOP CONFIRMATION !!!Chart pattern looks good for a short trade
1. Classic double top pattern with high & Lower high, low & lower low formed thus breakdown!!!!
2. SL & Target levels mentioned as dashed horizontal lines @ chart
In weekly time frame( shown below) , PEL still looks BEARISH(alike of bearish pole & flag)....trading inside a box(rectangle)
Let's wait & watch...how it moves!!!!
NOTE - Just Sharing my view...not a tip nor advice!!!!
Bullish flag pattern breakout in PIRAMAL ENTERPRISESPIRAMAL ENTERPRISES
Key highlights: 💡⚡
✅On 1 Hour Time Frame Stock Showing Breakout of Bullish flag Pattern .
✅ Strong Bullsih Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 760+.
✅Can Go short in this stock by placing a stop loss below 712-.
PELPEL broke out of flag n pole pattern on hourly charts, safe traders can wait for confirming candle of 15/30 min TF closing above 701 level, aggressive traders can buy here with mentioned stoploss & targets.
Not to be missed breakout as RISK:REWARD is very good.
Could be bought with mentioned stoploss & targets.
Liquidity Grab on PELAs the Market Improves and gives a bullish sentiment, PEL has formed a beautiful bear trap and gives a long possibility once the support zone is re entered.
Liquidity Grap- Is a smart money concept similar to stop loss hunting where the market gives a fake breakdown on low volume or a bad spread candle as visible here. The stops of many retail traders are hit as the market bounces back and takes off
Entry at 800
Target at 897
Stop loss 761
Keep It Simple
Piramal Enterprises Ltd; Flat PatternThe chart shows a flat pattern in progress, which is a type of corrective wave. The pattern is labeled as A-B-C and is indicated by the three waves on the chart.
In a flat pattern, wave B retraces at least 80% of wave A, and wave C moves in the opposite direction of wave A.
On this chart, wave A started at the high point of the trend and moved downward, followed by a retracement in wave B. Wave B retraced more than 90% of wave A, indicating that this is a flat pattern. The current wave C is moving.
Based on this pattern, it is possible that the corrective phase is running, and after complete new trend might be form. Traders may want to watch for a breakout of channel pattern as a potential indication that the new trend is starting
Piramal may be a good pickThe stock is trading in a price range for the last five months. This time again at the lower levels. If able to sustain above 780 levels, may be bullish in coming sessions. The buy scenario is open only above 780. Keep it on the radar.
Only for learning and sharing purposes, not a piece of trading advice in any form.
All the best.