PEL trade ideas
PEL, SIMPLE FIBO RETRACEMENT TRADE (CHART# 315)PEL is looking based on 2 factors.
1. Fibo 50% retracement and continuation
2. Taking reistance from long term support.
It will be weak below 1252 (1246 for safe traders).
Many more trades shared in our group. Focus on simple price action to get best results.
Thanks
Piyush Gupta
PEL Intraday ViewPEL:
Intraday view
Rising Channel Breakdown
Can break immediate support
Short below 1333 with a SL 1340
SHORT - Bearish Flag at Trendline Resistance - Risk/Reward 1:5Short < 1338
Stop-loss > 1403
Target 1000
Risk/Reward 1:5
Piramal Enterprise - Price broke the upward trendline on 4th September and pullback but faced trendline resistance at 1403 and fall back. Price made a bearish flag and breakout of the same is a shorting opportunity.
On a daily chart, the price made a lower high followed by a recent lower low and that confirmed the daily time frame trend as down.
Looking at the Weekly time frame price is already in a downward trending channel. It took resistance at the upper channel line of the channel and fall back. Also, the 0.382 Fibbo retracement level of the ongoing downtrend on weekly acted as a resistance.
PEL - SHORT SETUPPel broke down its support and has formed bullish engulfing while retesting. This can be a good shorting opportunity for pullback traders
Weekly levels (21 to 25 September 2020) - PELweekly levels for 21 to 25 september 2020.
web.sensibull.com
Ascending Triangle PatternPEL is forming an ascending Triangle pattern and getting ready to test 1500 levels again. Looks good above the resistance of 1390
Long PELPrice action suggests that PEL is breaking out for a move upside. BUY around CMP with SL as 1250 CB.
Disclaimer: Ideas for educational purpose, please do your due diligence.
Pel Volume DivergenceBuying Volumes are declining but on the other hand the stock is completing a ascending triangle. This is a divergence, have to see what will happen
A good swing trading opportunity PEL Ltd(Holding period 1 month)NSE:PEL
Formed an ascending triangle , perfect opportunity after a breakout wait for the prices to-hold above 1340 (Risk to Reward almost 3)and if wanna have a safe entry wait till horizontal resistance level break of 1355-1360 but this will decrease the risk but will increase the Stop Loss.(Risk to Reward 2).
Vansh Jejani
