Buy PEL target of 1600
Why:-
1. Stock has been bottom out as per the last swing.
2. Monthly expiry short covering may happen.
3. Risk Reward ratio is favorable.
4. 50 EMA touched 200 EMA. (Indicates golden cross over)
5. Today's daily canadle - Shooting Star
I will buy Sep 1500CE and sell 1600CE as a SL.
1. Stock has been bottom out as per the last swing.
2. Monthly expiry short covering may happen.
3. Risk Reward ratio is favorable.
4. 50 EMA touched 200 EMA. (Indicates golden cross over)
5. Today's daily canadle - Shooting Star
I will buy Sep 1500CE and sell 1600CE as a SL.
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