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PIDILITE INDUSTRIES LTDPIDILITE INDUSTRIES LTDPIDILITE INDUSTRIES LTD

PIDILITE INDUSTRIES LTD

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PIDILITIND trade ideas

Is Pidilite doing irregular correction?Looking at weekly chart look like a clear 5 wave upmove and then corrective A and B complete .. since wave A was 5 wave and wave B( running flat ) looks like 3 wave.. i have a hypothesis that Pidilite is not in a new impulse rather it is still in corrective and may do atleast 600 or below.. Below is the weekly chart invst.ly Now, coming to the hourly chart, the first wave of Wave C i.e. C.1 ( if it really is wave C) is a clear 5 wave structure and the Wave C.2. just retraced more than 80% of this down move. invst.ly Looking at trendlines .. it did stop right at the channel bottom which it broke. so here is a trade that i am planning to take on Monday ..Short between 765-770 ( spot ) with a SL of 781 ( july futures mostly ) for a target below 600 .. this is a positional trade and not a short term trade.. the Risk-reward is awesome .. I am new to EW and i am still learning so this could feel like ambitious , so please provide your view..
BSE:PIDILITINDShort
by sachinjain19
1
Pidilite IndustriesFundamentals- 1)Market leader in this space. 2)Enjoys the monopoly in the chemical business(Adhesives) 2)Expanding consistently and rapidly . 3)sales/growth/profit Numbers are growing @ >20% YoY. 4)Virtually no debt. Keynote-->Its a good stock that can be accumulated at every dip. Positive News-->Axis Mutual Fund bought 60Lakh shares on 24th Jan'2017 (Source -BSE india website) CMP-688(25thFeb'2017) 1st target-800(8-10 months) Disclaimer : I am a private trader who is just expressing his views. These are just my opinions and i am not giving any kind of free or paid calls. I am using this platform to share my knowledge and learn from other's knowledge. I might be/might not be invested in my opinions. NOTE-->I give preference to the traders/investors who encourage me by commenting and liking my ideas.
BSE:PIDILITINDLong
by GagandeepSinghTaluja