PEL trade ideas
PELBroke the trendline , pullback happened , bearish candle confirmed reversal . Nifty is the sole villian. Nifty is bullish today.
PEL possible short tradeOnce can short for levels of 900-880 if the above resistance is not broken, with broader markets being bearish, i am expecting it to react once for a pullback before crossing the resistance level.
PEL seems breaking triangle patternThe stock PEL seems to be breaking a triangle pattern and may retest the lower side of the triangle and go down again.
PIRAMAL ENTERPRISEPIRAMAL ENTERPRISE (NSE:PEL) : PEL (CMP 904.65) is near to break ST at 897 on down side and if crosses below 897 can move up to T1- 880 & T2 870.However, if Bull will take charge then it would be good on Buying side when CMP is above 914 for T1-924 & T2-938.
Look for confirmation on either sidePrice at resistance level .If breaks 995 - TARGET - 1007 & 1021 .
Due to expected bearishness on Monday - wait for confirmation
Move with the Market.Follow levels given in the chart.
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Pel Open Interest
23,92,896 -2.07 %
and price has inreased over last session. this may say that this is in short covering and if the stocks passes 880(breakout point) with good vol than it will tgt 900 .
and if the price fall down below 840 it will fall to 820
PEL, Learn & Earn (Fibo retracement)PEL after retracing to 61.8% level has continued is down movement. Good candidate to short below 828
PELPEL --- sHORT BELOW 823...INTRADAY TARGET 812...SWING T1 -764 T2 - 606
REASON...MORE OI REDUCE ON SHORT SIDE....
0.618 RETRACEMENT BREAKED
FOLLOW YOUR RISK MANAGEMENT...
DO YOU OWN ANLAYSIS BEFORE TAKING POSITION
Contraction of volatility Piramal Enterprise
(A.) Major Support & Resistance (Major Inside bar candle formation setup)
On 31 March 2020, a big candle with significant volumes was formed which might act as short term support & resistance. (Black Line)
(B.) Contraction of volatility (Minor Inside bar candle formation setup) - Very short term support & resistance
Contraction of volatility in the short term may lead to an increase in volatility which an intraday trader is looking for. (Blue lines)
(C.) At 1277 stock has strong resistance
(D.) Two gaps at
1150-1175
1341-1373
