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PIDILITE INDUSTRIES LTDPP

PIDILITE INDUSTRIES LTD

2,889.60INRR
−18.30−0.63%
At close at Jul 25, 10:29 GMT
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PIDILITIND trade ideas

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.
NSE:PIDILITINDShort
by padiyara
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..
BShort
by sachinjain19
1