Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed...
The stock slipped below its neckline support of 21,000. The measuring implication from the pattern indicated a possible target of 9,000. Before it reaches there it will find strong support near 17,000 mark. The stock is just a thousand rupee away from this level. Bulls could lend support at 17,000 but if they fail then one should be ready for a ride lower.
Stock is trading below critical round number of 20000. 61.8% FIB level coincides at that price. Weekly close should be closely monitored.
If stock happens to close above 20000 on weekly basis, it would give some hope for the Bulls.
On the other hand if the stock closes below 20000 it could potentially trigger another round of selling. Visually, one can observe...
* After bad results saw a huge fall
* Volume was very high compared to previous many days
* Formed IB today
* Break on either side may trigger good followup
* Buy on PDH, sell on PDL
Keep eye on level of 18000-17500 which is likely to hit. Reversal is only on close above 23500. Wait for reversal signal on RSI. 17200-17500 should provide major support for short bounce.
If support is broken on 30min clbs ., then it can fall towards T1 and T2
All the levels are mentioned on the chart.
Disclaimer - Not a recommendation to buy or sell, view only for educational purpose.
- Formation of an inverse H & S pattern
- Stock to hit 2200 levels before its starts moving in favour of pattern
- Macd shows massive divergence
- RSI shows negative divergence
- Volume is starting pick up on gradual basis
Looking at RSI, It can reverse from resistance or breaching of resistance will move towards T1 and T2.
All the levels are mentioned on the chart.
Disclaimer - Not a recommendation to buy or sell, view only for educational purpose.
My suggests is Page Industries Ltd Buy shares at the target price of 28850.0. Page Industries Ltd. . The current market price of rupees is 23579.1. Market Expert has fixed its period of 1 year, when Page Industries Ltd The price can reach its set target.
For the end quarter 31-12-2018, the report sold by the company is standalone - Rs 738.32 crores, 6.89% up, last...
Page Industries Limited is engaged in the business of manufacturing and trading of garments. The Company offers knitted garments. The Company offers a range of products for men, women and children. The Company is engaged in the manufacturing, distribution and marketing of Jockey products. The Company holds license of SPEEDO, an international brand for swim wear. The Jockey brand is available in over 1400 cities and towns. The Company's Jockey brand products are sold through exclusive brand outlets (EBO), large format stores (LFS), multi brand outlets (MBO), traditional hosiery stores and multi-purpose stores spread across India. The Company has approximately four EBOs in the United Arab Emirates and over one EBO in Sri Lanka. The SPEEDO brand is available in approximately 1060 stores, including over 150 LFS across approximately 110 cities and over nine EBOs. It operates its own online store www.jockeyindia.com. Its plants are located in Bangalore, Hassan and Mysore, among others.
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PAGEIND
