PCJEWELLER trade ideas
LONG PCJEWELLER FOR TARGETS of 200-300 in 3 monthsStock has given parabolic recovery after falling from highs.
Expect BULLISH Rallies in Coming Weeks with NSE:PCJEWELLER Moving towards 322 after closing above 175
Levels are mentioned in Chart. HOLDING PERIOD is around 3-4 months
PC Jeweller Target Rs.264 - Falling Wedge PatternNSE:PCJEWELLER
Falling Wedge - Bullish Reversal Pattern giving minimum Target of Rs.264
PC Jewellers Target 264 - Falling Wedge PatternClear Falling wedge Pattern indicating Bullish Trend reversal and giving minimum price Target of Rs.264 NSE:PCJEWELLER
My short term outlook for PC JewellersAs I see it , PC Jewellers might be doing a X wave after completing Y on 26th oct '18 . Although we can't ignore the possibility that it could be start of a disguised impulse after the completion of a larger WXY from ATH , its still a less possible outcome as the wave structure of this rally suggests otherwise. Volume looks better but it has started giving divergence , So i'm expecting a small dip before another small continuation up. My potential targets for both the moves are indicated by the horizontal blue lines. It would be interesting to how the market behave once it goes for the completion of C wave of this potential larger X before going down for a potential Z down. This move could be a bottom event. COULD BE.
Would like to see a break above INR 140-145 to establish a strong case for an impulsive move. Moreover, it would be then crucial to watch the bounce after a 4 but.. bleh! Not liking the looks of it to call it an impulse. So I'm going for a large WXYXZ from ATH as my primary.
This is not an investment advice. make your own plays and never trade on other people's opinions.
Thank you
Long term buying opportunityThere seems to be FAVOURABLE RISK :REWARD RATIO to buy at CMP 167 with SL=143.95 (WEEKLY)CLOSING.
PC Jeweller# Good location and R:R near 342
# Trading near support line
# AB=CD Harmonic pattern at 341
AB=CD PCJThere is some approximation on the ratios(0.38 = 0.41, 2.618= 2.62). This is just for discussion.
