PEL trade ideas
PEL can give you good swing.....Just wait for the lowest retest near around 1800- 1780 area and let the price to act with volume to get minimal sl. Pls do exits based on days close concept. It is not necessary to attend all the parties just GO for that which you are invited. so wait for the invitation. Happy trading...
PEL - Bullish viewAll details are given on chart. If you like the analyses please do share it with your friends, like and follow me for more such interesting breakout charts.
Disc - Am not a SEBI registered. Please do your own analyses before taking position. This post is only for educational purposes and not a trading recommendation.
PIRAMAL ENTERPRISES LIMITEDPEL Chart shows a DISTRIBUTION PHASE for a LONG TIME .
AND this give a BREAKOUT ON DOWNSIDE , IN WEEKLY CANDLE shows the BEARISHNESS . WAIT for NEXT CANDLE FOR CONFIRMATION.
After the confirmation The next Targrt price range is Rs.1930 - 1870
This is our view of PRICE ACTION .
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THIS IS FOR EDUCATIONAL PURPOSE ONLY.
PELNSE:PEL
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PEL looks to be breaking out of channel patternPiramal Enterprises Ltd is one of India's largest diversified companies. Its businesses are divided into two verticals i.e. financial services and pharmaceutical business.
On short term analysis of chart, a very clear downward moving channel is identified on candlestick chart. Stock has near the upper end of the channel and is also forming triangle pattern.
A breakout above the trendline should indicate that price can move towards its ATH price. For options traders, a bull put spread should be a better alternative than call bull spread as movement may be slow.