pc jwellers may be bearish once it crosses the bottom trend line as rsi and smv shows mostly downtrend,but if crossess upper trend line may be bullish,levels of support and resistance are shown in graph.
A Bullish bat has been formed with improper ratio with more green candle a long setup can be initiated with the below mentioned prices
Entry-347
SL-333
Target 1-362.75
targer 2- 374(TSL being 362)
PC Jeweller looking good on charts. Breaking from bullish wedge. after bouncing from 50 DEMA. Even RSI indicator has bounced back above 30, generating a buy signal. If sustains abv 340,i expect stock to head towards 400 in Oct. We hold
EW analysis in weekly, shows it is in wave 3 now, wave 2 was a flat correction, with a shallow retracement. So wave 3 should be extended here.
wave 3 projections shown here.
I am looking this stock is in strong momentum , i am looking for reversal near 334/330 and i will be going long with reversal sign with stop 325
Lets see how it unfolds
Regards
All in Chart.
Good stock for Intraday churning.
If enriched your knowledge,
Please don't forget to LIKE, SHARE .
Comment appreciated.
Disclaimer: Only For STUDY. For Taking Trade Decision Consult Financial Advisor.
Snapshot of Intraday levels.
PC Jeweller is facing resistance at higher levels & has formed a Symmetrical Triangle.
Usually Triangles react as a spring & break either support or resistance.
Here we are seeing a divergence in RSI & also a Gravestone Doji type formation with the last candle.
I expect a short term Bounce towards levels of 260/266 within the triangle.
Buy with a strict SL of 241.
