PIDILITIND trade ideas
Breakout in Pidilite Industries...Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Target 1 (26%) achieved in Pidilite Industries. Target 2 is ON..This is follow-up on Pidilite Industries. Can check link to related ideas.
Target 1 achieved. More than 26%. Target 2 is ON.
Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
[POSITIONAL] PIDILITIND LONG BET risk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
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I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
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Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
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Pidilite Industries - Continuation of Bearish trend.
The bearish trend for Pidilite Industry is continuing for the last 7 sessions. It is testing the immediate support level around 2186. If it breaches the immediate support level with a bearish candle, further fall in the scrip is expected with high volumes.
Simple Trade Setup | PIDILITE IND | 15-11-2021 [ INTRADAY] NSE:PIDILITIND
Observations:
1) On daily time frame, it sustain to stay above 2400 level as well as 50DMA which is placed at 2392.97 level.
We can say that 2390-2400 level is immediate support range.
And major support range is as 2300 level.
Also, it looks like it, on 11 Nov 2021, it gave breakout from parallel channel and on 12 Nov 2021 it tested this breakout.
Now if it sustain above 2400 level and this parallel channel then we can see up move to continue.
Major breakout level is 2480 level. Above this we can see good upmove.
Please refer below chart : 1 day Time Frame.
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Trade Setup for Date: 15-11-2021
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.