On Daily TF Trend is overall Bearish. By looking at RSI indicator it is evident that Bears are in control here. Price is likely to test 103.5 support level and by the look and Volume of candles it is giving an impression as if price is likely to break the support level of 103.5 and will test 94.5 level. And even can go further down and test third support level at 72.00 .
To draw confluence, also seeing the historical data, after every Earning and Dividend the price dips, therefore, on 16 Oct and 29 Oct, 2024 price will dip. Also oil prices also going down and therefore PPL is also going down.
Hence, in December it would become a Buying Option at around Rs 72.
One can Short Sell once price drops to 102.50.
Disclaimer: This is not a financial advice, take your trades as per your own analysis and dynamics.
To draw confluence, also seeing the historical data, after every Earning and Dividend the price dips, therefore, on 16 Oct and 29 Oct, 2024 price will dip. Also oil prices also going down and therefore PPL is also going down.
Hence, in December it would become a Buying Option at around Rs 72.
One can Short Sell once price drops to 102.50.
Disclaimer: This is not a financial advice, take your trades as per your own analysis and dynamics.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.