PI Industries Ltd. is an interesting chart with following
1. Price moving in a rising channel and consolidating since July 2022
2. Multiple Supports at 3460-3500 zone
3. 20 Day SMA support at 3470; 50 EMA daily support at 3490
4. 50 day EMA weekly support at 3474, 20 months SMA support at 3410 levels
ABCD Pattern under formation on weekly chart with...
Its a weekly time frame chart analysis for PIIND. It is forming a ascending triangle. And its first target will 4400. I have considered chart pattern and trend. I have also considered few other things like previous result, etc. And then i came to this conclusion which i am sharing it for study purpose.
PIIND has been under sideways correction for the last 9 months. It has given trendline resistance breakout and trading above previous swing high of 3900 zone. Looks strong, if the momentum continues, we can expect 4000, 4200, 4400+ levels in coming days.
SL: Daily candle close below 3880.
📊 Script: PIIND
📊 Sector: Chemicals
📊 Industry: Chemicals
Key highlights: 💡⚡
📈 Script is trading near neckline of Double bottom patter, we may see breakout of it.
📈 Breakout is above 3891 level.
📈 One can go for Swing Trade only candle closing above 3891 level.
BUY ABOVE ONLY - 3891
⏱️ C.M.P 📑💰- 3867
🟢 Target 🎯🏆 - 4076
⚠️ Stoploss ☠️🚫 - 3763
⚠️ Important:...
Breakout from ASCENDING TRIANGLE & A CHANNEL . Shake out candle followed by volume buildup seen .Closes above shake out candle open . Can give pattern based return of 29~30% . NOT A RECOMENDATION , ONLY FOR EDUCATION PURPOSE.
NSE:PIIND
I was expecting the price of this stock to reach the monthly demand zone. However, looking at the candles, it doesn't seem like the price will go down any further. Here are my reasons:
The weekly demand zone is a strong zone because it took the price to an all-time high.
The price has also broken through a monthly supply zone.
The price is...
Happy learning with trading. I just shared my view. If correct give me one like. If not correct me.
Points to Note:
1) bounce from support and standing at resistance (4th time). possible to breakout.
2) May we can seen new ATH.
Disclaimer:
I am not a Registered Analyst with SEBI and it is only for educational purposes. Please consult your financial advisor...
Testing Highs
FLush reverseal setup ( breaking down and next bar recovering and then breaking out mini resistance)
Sustaining above mini resistance.
high probability of resuming uptrend
cmp 3730
sl 3440
target 4900
1. Outperforming stock.
2. Sustained last 2 week's volatility.
3. Last quarter results were good.
4. Ascending Triangle breakout has been retested.
Buy on a daily close above 3818. TARGET 4620. SL 3490.
fundamentally strong compony in chemical sector offer attractive valuation at this price...
monthly N weekly chart shows long term uptrend
daily chart shows consolidation at bottom with RSI divergence conformation...
The overall market appears to be overvalued from a technical standpoint, suggesting a high probability of a sell-off across the market.
Upon reviewing previous price action, it's evident that the market hasn't rallied significantly after consolidating pattern formations, similar to the one we're experiencing presently.
Although I anticipate a 9.74% move from...
