pidilitechaneel breakout + at strong ress level.
if sustained above that level will move up else it ll retest the ress level and will come down and the ess level will become support.
PPPidilite Industries Limited
1,459.80INRR
−21.60−1.46%
At close at Nov 14, 10:29 GMT
INR
No trades
Trade ideas
Short term correction long term buying opportunityAfter hitting all-time high, the stock has fallen sharply with a big bearish engulfing candle. Volumes were also substantially high. It means a short-term correction is on cards and traders can go short on it. But the long-term uptrend remains intact. Wait for the fresh buying to start before entering on the long-side.
PIDILITIND:775 A break below the neck line can target:685PIDILITIND:775 A Head & shoulder pattern on wave 5 completion, break below the neck line can bring
down the stock to 685 level.The wave count shows that the wave 3 was extended and hence wave 5 will
almost equal to wave 1 seems to be completed at 868. The stock fundamentally a strong one.
A head & shoulder pattern Break below the neck line targets 685 & It can even correct to wave 4 support level 567 marked.
Pidilite Ind - Breaking to new "All Time High"It has been observed on the Weekly chart that the price action breaks above the strong resistance zone of 830-35, which now indicating a new all time high and also shall further move up.
The company has been working well with strong growth, which also eligible for investing.
Target1: 855
Target2: 865
SL1: 830
PIDILITE Resistance level breachedPIDILITE was following sideway channel, retracing from support level and resistance level. As we can se the resistance level is breached by a green candle which closed above the previous candle, we can go long with the stoploss at the breaking of the resistance level i.e 831 with risk reward as 1:2 .
Else one can short PIDILITIND 810PE at 8.0 for conservative, PIDILITIND 820PE at 13.0 for average risk with lot size 1000.
Pidilite:- about to break the range?Pidilite ind CMP 827 has made kind of tripple bottom at 796 which is now acting as strong support for a long trade . One can go long in the range of 805-812 ;Target upto one's risk appetite whoever wants to run their position. i see 865/872 for the stock if it breaks out .
