PEL - Return of Bears ( Bearish Gravestone Doji Candlestick)PEL is a fundamentally weak stock with alarming PE of 380. It has been observed from the technical chart that the price action is forming lower highs with bearish candlestick patterns, indicating bears hold on every rise. Today, we have observed a bearish gravestone doji pattern after last day bullish candles, indicating the return of bears that may now take prices further down and we may observe healthy correction in the stock.
T1- 1240 T2 - 1180 SL-1360 (estimation as per spot prices)
PEL trade ideas
PEL inverse head shoulder PEL inverse head and shoulder. Always wait for a proper breakout before entering the trade ...
just sharing my point of view on stocks and indices.just sharing my point of view on stocks and indices. TRADE RESPONSIBLE
#PEL CASH : LOOKS GOOD AROUND 1287-1293#PEL CASH -Positional call
14.10.2020
LOOKS GOOD AROUND 1287-1293
STOPLOSS 1275
TGT 1318-1320/1340
CMP 1299.65
Change of trend , Momentum , Trading plan , Graphical patternHello Friends , i have made some efforts in explaining few methods you can look in your technical analysis ,
Most important is Trading plan where if plan is applied correctly your win rates will improve by 50 % even if you are in wrong trades ,
You can protect your self form deep loss and you can continue to trade ,
I request you to kindly consider all of my explanation as motivational talk ,
I will try post in coming days few other important topics ,
Good luck
#PEL CASH : LOOKS GOOD ABV 1340.10#PEL CASH
11.10.2020
LOOKS GOOD ABOVE 1340.10
STOPLOSS 1322
TARGET 1358-1360/1380
CMP 1318
PEL - Intraday breakout possible - descending triangleImmediate support placed at 1305 can break, giving a possible move downwards. If further move after round level of 1300 is seen, The trade is expected to make the 1300 level resistance in the coming sessions.
This is expected to be a short term correction as the stock has broken the descending channel in the higher time frame.
Sell below 1305
Targets cannot be specified as there is lot going on the fundamental side of things too.
This is not a recommendation, Its for educational purpose only.
Trade Safe!!
PEL - Bearish GartleyBarish Gartley observed in PEL. Also levels near daily resistance zone.
Wait for a strong terminal candle before entering.
I'll be entering (if there is confirmation candle) with a combination of put options as IV is high.
Views only for educational purposes. Do your risk assessment before entering financial positions.
BUY Above 1360Current trend shows PEL surely touching 1360. RSI at 60 and positive money flow (chaikin moneyflow indicator), shows there is high possibility to breach 1360 levels entering overbought zone, thereby moving further to 1455 levels.
We may witness a small retracement in between.
PEL POSITIONAL - LONG NSE:PEL
(FOR LEARNING PURPOSE ONLY)
1) Phase 1 (Accumulation) Completed
2) In the midst of Phase 2 (Mark up)
>> We can see expanding volume when price moves up and contracting volume when price retraces
ENTRY
BUY WHEN PRICE RETRACES BACK TO HL
TARGETS
TG1 - 1600
TG2 - 1900
PEL SHORT (RETRACEMENT)NSE:PEL
(FOR LEARNING PURPOSE)
Price Increasing on contracting volume
Possible Retrace down could happen before rallying up
Entry for Short - MARKET
Target - 1300
Entry for Long - BUY WHEN PRICE RETRACES TO 1300 ( ON VOLUME CONFIRMATION)
Target - 1630
