PEL trade ideas
Long Buy PELI am not a certified analyst, the charts shown here for study & learning purpose. Please share your views.
Strong: Elliote(5+3) + Price Action breakout + Volume profile Hello guys before I write anything I say something that's its takes hours to analysis a single chart so please like it.
Elliote wave: 5+3
=>> 5 Impulsive wave done by Piramal Enterprise at 629 0.618 fib level according to wave principle, Currently It's riding on Corrective wave and its have 3 waves with correction of 1 fib which is at 1760 level = 4 wave
Price Action Breakout:
=>>According to its theory its touches there lower value with excess price with pinbar shows rejection to falling more down and move toward control price if it breaks the level of control price then we can see Piramal at upper value soon.
Volume Profile:
=>> As you know little bit about volume profile you can see Price at this volume high which means institutional investor taking entry at this price for reversal.
Buy Strongly ::::: like Like
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piramal enterprise analysisone should accumulate the stock for investment purpose at a range of (750-650)
Time to Accumuate PELLong terms seems to be good option for PEL.
Please trade at you own risk.
This is only a study.
PIRAMAL Enterprises - BAT PATTERNPIRAMAL ENTERPRISE formed bat pattern on its hourly chart, currently trading within its pz zone .i.e. 980-990
The Bat pattern prz coincides with the .382 retracement on the daily chart, hence resistance going to be strong.
Momentum is also lacking in the rally started from 890 levels.
As per my analysis stock is going to retrace some part of its recent rally and may test 930 levels on the downside.
Piramal Positinal and Intraday ShortNSE:PEL Piramal is in a downward spiral consistently for a long time. Piramal being an INFRA is safe to short both for intraday and positional basis.
on hourly charts though there is a breakout of resistance trendline but soon after the breakout there are 2 bearish doji which suggests false breakout.
PIRAMAL WEEKLYBullish Shark
Earlier when price touched 1.13XA of this Shark clear Reaction came. now price is again in the Potential Reversal zone of Shark
if amprsi turns upside with confirmation getting from a bullish candle
BUY OPPURTUNITIES
PEL view with Entry above 1445 SL 1410 for target 1480,1520 or mPEL view with Entry above 1445 SL 1410 for target 1480,1520 or more....as it trade around major support area and imp fib level and hammer reversal candle 1 hour
PIRAMALPrice is in Bullish Shark Reversal zone , earlier we can see here how we got Reaction at this Zone and
its a Bottom Reversal with 2 Bar SIGN OF STRENGTH as Second bar close & high are higher than the first bar high and volume on second bar is higher than the first bar volume, By WCYKOFF Effort vs Result shows effort to rise is successful It shows immediate strength
BUY
Piramal Enterprise - More pain ahead...Short at current levels.Piramal enterprise - Short at current levels.
BUY PEL BETWEEN 1468-146009.01.2020
PEL
BUY PEL BETWEEN 1468-1460
CMP : 1473
INTRADAY TARGETS
T1 : 1504
T2 : 1530
SL : 1447
