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PEL trade ideas

#pel #piramalenterprise Support Levels NSE:PEL 📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns. 📌 That Dash Line Is Called PRZ, From That Dash Line To that Horizontal Simple Line Area Is Whole PRZ(Price Reversal Zone). 📌 As One can see, This Pattern has Been Made on Monthly Time Frame, that's why stop loss quite big as per this pattern and time frame. So wait for perfect reversal first then only go for long and ones enter in trade then strictly follow stop loss and here as per my own experience one should keep Stop Loss as closing basis. (PRZ :- Potential Reversal Zone, SL :- Stop Loss, TF :- Time Frame) PRZ 1 :- 2232.25 SL :- 2110 (Closing Basis) Target 1:- 2297 Target 2:- 2342 Target 3:- 2388 and more Trailing basis Note:- As Per this harmonic pattern , stop loss is quite big, so Trade on reversal only if you don’t know what is reversal, Kindly note that and ask in live session so next time you could be able to identify reversal by your self. Even ask doubts in comments, below. ******whatever charts or levels sharing here or on any other platforms are just for educational purpose only, Not A Recommendation To Buy Or Sell. Please do your own analysis before taking any trade on them. We are not SEBI registered.
NSE:PELLong
by linesandlevels
NSE PEL Is Preparing for 2400 - 2301Targets: Traders can initiate short positions for the following targets: 2400 - 2376 - 2301 - 2279 BUT DON'T TRADE BLINDLY . Read this following research to get how it is making selling opportunities for the intraday traders. PEL is forming a double combination pattern on the 4-hour timeframe chart. Price has constructed LL(lower-low) and LH(lower-high) to confirm the bear's existence. Wave Formations: Wave (W) is a double zigzag formation with seven wave structures. Wave (X) is a contracting triangle with five sub-wave structures. Wave (Y): Sub-wave wave A & B has occurred, and wave C is progressing. Sub-wave B has completed at 61.8% Fibonacci retracement of wave A at 2531 . The culmination point of wave C: Wave C can end at 61.8% of wave A at 2279 . Wave C can cease at 50% of wave A at 2333 . Wave C can conclude at the control line, and 61.8% of wave ((w)) at 2376. After completion of wave C, the price will start its bull run.
NSE:PEL
by forextidings
triangle pattern | PELtriangle pattern formation in Piramal Enterprises Ltd. add to watch list for breakout At the start of its formation, the triangle is at its widest point. As the market continues to trade in a sideways pattern, the range of trading narrows and the point of the triangles formed. In its simplest form, the triangle shows losing interest in an issue, both from the buy-side as well as the sell-side : the supply line diminishes to meet the demand. Think of the lower line of the triangle, or lower trendline, as the demand line, which represents support on the chart. At this point, the buyers of the issue outpace the sellers, and the stock's price begins to rise. The supply line is the top line of the triangle and represents the overbought side of the market when investors are going out taking profits with them.
NSE:PEL
by ProfitPicks
Simple Trade Setup | PIRAMAL ENTERPRISE | 18-01-2022 [INTRADAY]NSE:PEL Observations: 1) On 1 day time, we can see it made trianlge pattern. And also made bullish candle from 100DMA. 100DMA will be immediate support now. 100DMA is placed at 2638.56 level. Immediate breaout levele is at 2675 level now. Please refer below chart : 1day Time Frame. ------------------------------------- Trade Setup for 18-01-2022 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:PEL
by Trading_hawk