PIDILITIND trade ideas
Pidilite - ascending trianglePidilite as formed ascending triangle one can go long after the breakout in upperside
There are 2 ways to go long
1. one can go long immediately after the breakout of 1305 level. Those who go long this way are called aggressive traders. But the risk factor is more by this method.
2. one can go long after Breakout and retest of 1305 level. Those who follow this method are called conservative traders. risk factor is less in this method. the only drawback of this method is sometimes u may not get entry after the breakout .
Pidilite Ind showing some love...Lets have a look at the analysis -->
1> EW analysis -->
Counting from low 1095 on 15th May 2019 till 1304.80 on 11th June 2019 as an impulse move, and from the same high till recent low at 1195.55 as an corrective ZZ move, we might be in either impulse move upside or B of the same corrective more or x of same corrective move. The most biased and preferred count is an impulse move upside, still whatever wave it might be, it will result in up-move only.
2> Classical TA -->
a. Top formed at 1304.20 and 1304.80 gave possibility to double top(marked w/ an arc on the chart) which was activated after breaking the neckline of the double top and the height/target of double top is at 1200 level approx.
b. 1202 -1992 is a major support for the scrip.
c. previous day it formed a bullish kicker on daily chart.
d. the scrip has retraced 50% of Fibonacci level.
e. given breakout to the downtrend channel
3> Putting it all together -->
Currently, it has some support at 1222/18 levels, which can be used to go long for the targets of 1248/62/84 levels with Stop loss 1199, or using your own strategy and risk management.
Incase you missed previous idea on the same scrip -->
Regards,
Sharma Yogesh
Buy setupPidilite has a very interesting Buy setup. Its consolidating and it should be done soon. A breakout to the top - and I guess we can see new highs being made. The risk / reward also seems quite favorable. I would look at the First target being a retest of the previous high and the second one at the mentioned level on the charts.
#PIDILITIND #EMA #Alignment#NimblrTA - Understanding EMA Alignment
NimblrTA uses EMA 5/21/55 on positional
1) Condition: Close > EMA 5 > EMA 21 > EMA 55
sets the tone for the alignment.
2) It must be have a momentum to reach the heights
3) Orange / Blue / Green lines gives EMA 5/21/55 on this chart
4) Crossover to align EMA for first time is the TGC (Triple Golden Cross)
5) Ratio of Absolute gives the TGC Factor
6) TGC Factor b/w 0.382 - 2.22 indicates all EMA are equidistant from each other
This Condition to start a new journey is backed by momentum.