Piramal enterprise - Long Entry (4/DEC/2020)Piramal enterprise - Buy side entry after breaking key level resistance area
PEL trade ideas
Piramal Enterprises - Bullish BreakoutNote: This is for educational purpose only.
There seems to be a bullish breakout post build up near resistance. Volume is increasing and RSI indicates bullish momentum as well.
PEL SPOT POSITIONAL VIEWPEL SPOT chart is forming inverse head and shoulder pattern. Break out with closing above neckline may give the marked target to validate this pattern successfully.
VIEW NEGATED BELOW - 1369 (DCB).
PEL SHORTING#PEL on the way to 650 price or less in the coming days very soon.
P/E: -24.8
My view------------------------------------------------------------------------------------------------------------------>
Cup and handle pattern Classic cup and handle pattern is getting formed on a weekly time frame chart. aggressive swing trader can go long if price breaks the trendline @ 1492. Conservative swing traders can go long once price breaks the resistance line around @1600-1610. Target 1 @1800. Target 2 @2000.
PEL FLAG PATTERNS BREAKOUT DONE.PEL FLAG PATTERN BREAKOUT GOOD VOLUME
POSSITIONAL VIEW ABOVE 1501 CAN TOUTCH 1540 ,1590 +
PEL, INVERTED HEAD & SHOULDER BREAKOUT (CHART# 385)PEL has formed beautiful Inverted Head & Shoulder pattern on daily chart. Today's day close was above neck line.
PEL looks strong above neck line 1490-1495. It has weak resistance at 1515 followed by 1550.
Also keep PIDILITIND on radar which was posted yesterday and yet to give expected move.
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators. Reach out if you wish to learn powerful technical analysis based on simple price action.
Thanks
Piyush Gupta
pelNote:
• Avoid the stock if a big gap down is seen
• Enter after breakout happens and not before it
• Do not chase the market, i.e. do not get involved late entries
• Only enter with stritct stop-loss and target
• This is not a recommendation and is for education purpose only
• Always follow risk-reward and quantity management for the 100% of the times
• The above mentioned idea may not work so beware of the risk you are taking
Follow me to Learn and Earn with Me.
Happy Trading!
PEL-OBSERVE BULLISH FLAG PATTERN OBSERVE BULLISH FLAG PATTERN IN PEL SCRIPT...
OBSERVE AND TRADE AT YOUR OWN RISK
PEL - ALL Set for next swing target#pel all set for next swing target 1730. Positional targets for this stock are higher than this however this is just a daily chart analysis.
Inverse H&SInverse H&S is being formed on daily chart. Daily close above 1530 would be the confirmation. It must be supported with heavy volume and full body wide range candle. Target will be 2500.
Disc : It's not an advise to buy or sell
PEL#pel as mentioned earlier too, weekly breakout done and in a retracement or pull back now. Next targets are defined on chart.
