Trendline Breakout on PC Jeweller on 1hr chart and 498 to 502 level having range. Once the price cross the range and the it will move further upside.
Trade:
Buy above - 502
Target 1 - 511
Target 2 - 519
Stop Loss - 491
PCJEWELLER: @ 502.3
IS HISTORY REPEATS!!!
All are plotted in Chart.
Res.: @ 511, @ 516.6-520.5 (Hurdle Zone) , @ 531.2,
Sup.: 493, @ 487.7 - 486.4(Bounce Zone) , @ 472.7
SHORT & COVER as per Level (i.e RES. / SUP .)
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Disclaimer: Only For STUDY. For taking Trade Decision Consult...
The stock have broke the long term range bond
the range was from 2015 till date due to which it went spike so high , but for safe trade i must ensure the brake out stand still after retesting the brake out level
Waiting for retest and hold the level for entry
If stock holds the brake out level then can go up 650 as long term view
Regards
Above 459 - do not forget this stock -it is gold- remarked at 14:45 Hrs -16th May2017. Post 500 -it can attempt 515-520 but emotions were stronger as compared to the vertical target line drawn in last update mentioned below.
Previous Update - 445 for 490 & above 500 for 515-520
It is been observed that the price action forms an Ascending Triangle pattern on Daily chart. Now, a close above 450 levels will take the price action further up to 460-470 levels. It is wise to enter once the price action breaks the triangle formation and close above. I'm positing this chart before in order to provide you a good opportunity in advance.
Target...
Wishing You All, A Happy Akshaya Tritiya which shall be celebrated on 28th April2017.
Consumer demand is expected to be strong due to the wedding season and traditional custom to buy gold on the occasion of Akshaya Tritiya.
Double Top Break Above 445 should take emotions to new high of 490-500 zone, but please keep a check on your emotions.
Crossing 500 -can...
stock is in up trend
after the up move now in side a range
that range is in verge of getting broken on upside above 437
one can look into the stock at the above mentioned levels
towards 447/457
The daily chart for PC Jeweller shows cup and handle formation. This pattern when formed in a upward trend is a bullish signal. If it shows uptrend in coming days, it may move towards it all time high.
