Hello & welcome to this analysis.
Stock has been on a strong uptrend ever since it broke above its 5 years high near 80.
Currently at a parallel channel and Ichimoku target/resistance.
Accumulate on dips till 120 and or wait for sustenance above 150 for further upside would be my strategy in this stock.
Happy Investing
Pennar Industries was upcoming days bullish.
Logic; it's a strong break out with good volume and I know u didn't get anything by seeing I'll provide a chart.
if you want a clear easily understood structure, you can once go through the 1M TF , then you can get easily means got ur idea on stock.
I hope you like my analysis.
CMP 107
Target open min 120 to 155...
The above information does not constitute investment/trading recommendation and it is purely for educational purpose. Please check the Strategy below...
SWING Trading Strategy:
Position is created, only upon stock closing above the entry price on day closing basis and is held on for 5-10 trading sessions for larger gains (5-10%)
INTRADAY Trading...
PENIND - Short term
Sector: Capital goods
Strong Bullish, volume-supporting
Buy above 125 | Tgt 132 , 140 | sl 115
It is my view, to trade on your own analysis
BUY - PENNAR INDUSTRIES
CMP - Rs. 111
Target - 1: Rs. 158
Target - 2: Rs. 202
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Timeframe - 3 months - 8 months
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Technicals - Trendline Breakout
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This is just a view by an expert analyst, please invest at your own risk.
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Rising Wedge Breakout in PENNAR IND.
Book profits within the first 30 minutes of the market opening
- Try to exit by taking 10-15% profit of each trade
- SL can be taken when the 5/15 min candle closes below 44EMA
- Debtor days have improved from 72.2 to 45.8 days.
- Company's working capital requirements have reduced from 94.1 days to 62.5 days
Now, why do I...
Stock was not able to sustain above ATH 79.45 level.
It is now consolidating for a month long in 15% range. I would want it to sustain above 87 levels. It is showing strength on monthly timeframe. It is also trading above its key moving averages too.
79.45 shall now act as a key support. If it close below this weekly then the view get invalid.
Volumes are...
Chart -> Pennar Industries Daily
CMP: 87
Targets: 97, 105
SL: 80.50 Daily Close
Disclaimer: This is for educational purposes only, not any recommendations to buy or sell. As I am not SEBI registered, please consult your financial advisor before taking any action.
Breakout Trap in PENIND
Daily Analysis of PENIND
This is how investers traps in a breakout trap
PENIND has made double bottom patten and as per Double Bottom Pattern analysis the projected target has been reached but the picture is not over yet!!!
Some investers do re-entery in it after it breaks recent resistance level. Same thing happend in PENIND after...
- The stock is in an uptrend, making HL and HH
- After a BO it did retest the BO zone and then consolidated around the ATH
- Now given a strong BO with big volume
- Bullish RSI
- Trading above all major EMA
CMP 84.40
Target 100
SL below 77 on closing basis
