Follow on twitter @piyushrawtani for live trading ideas .
PCJ is expected to touch the weekly support of 36.5 and has been forming 5 NR candles on hourly ,
Can sell below 38.5 with SL 40.5 and targets , 36.5
after a strong rally downwards post budget, the prices are consolidating and the investors are slowly picking up on the stock. The Stock is about ot go in an uptrend. Soon about to breach the narrow wedge formed for the past few days.
Disclaimer: Only for Educational and testing purpose.
STRONG SELL pc jeweller it is going to make a new 52wk low. Downtrend will be continue till 35.75. If the support will break then we have to assume historical low is 34.25 you can hold more stocks at price 36 . according to me we should take exit now till bear power ends.
Buyers already attracted this stock to buy at 52. and the CMP is at 60.
We expect a price spike on this stock for target 74-77 first one.
There are two strategies for entering into this stock, 1). buy between 55-58 with stop loss of 52 and 2nd). buy above 63.7 above and wait for the target.
--> I don't not use Fin Retracement theory on all stocks but when...
PC JEWELERS IS TAKING SUPPORT @ 106 LVL (50% FIB LEVEL OF THE EARLIER RISE).
IF IT FALLS FURTHER, THEN IT MAY REACH 92.
FROM THE CHART IT APPEARS THAT PC WILL GO TO 160.
IF IT CLOSES ABOVE 163, THEN NEXT TARGETS ARE 204 AND 237.
FROM THE INVESTMENT PERSPECTIVE, PCJ CHART APPEARS TO BE QUITE ATTRACTIVE.