PEL trade ideas
PEL - Near ResistanceSupport Levels: 1325
Resistance Levels: 1552, 1615, 1652, 1705, 1741, 1797, 1821, 1862, 1887, 1962, 1989
Trendline Support Levels: 1314-1288
Trendline Resistance Levels: 1577-1570
Personally I traded and earned money from PEL
Flag Pattern
Unclear Head and shoulders pattern (Price is trading at neckline)
Channel with control price
Cycling Observation:
For Oct. 2017, Over-Reaction observed in Nov and Dec 2017.
The month of Oct and 2018 have been seen Over-reaction with the change of the Volume .
Currently the Oct 2019, a price is out of the channel and it has been just 10 days of this month .
A sharp look at Volume:
Volume for the last 10 days is equal to the Average Volume of the last 5 months .
There are still 20 days left until the end of the month of Oct, even though the 10 days volume and price is outside of the channel. This is the clear sign of TAIL before ending this month.
Question is, Why the price is outside of the downtrend channel?
-> Before the answer this question, you must understand the sentiment of the investors. If we talk technically, price breaking 50 days M.A. the fear of spreading within the investors. Informed and Uninformed both investors having fear but Pro Investors will take action when price over-react.
799 Short at 1483 funda week. SL compulsory
expecting 1051 by next month,
if any good news/ sectorial supports are not there for this script.
813a. final leg may resumeSL compulsory;
If backgroud market is reversal, then there might be trading range.
733 mac diver short signal generated.Any inside gap near 1815.30 forming price rejection pin bar at 1826 enhances the micro c induction towards 1760. howsoever sl compulsory.
buy opportunity at 1715 as well. both setup required sl compulsory
Piramal Positive DivergencePositive Divergence plus closing above support zone would take stock more higher
PELCurrently at at strong resistance level (which was earlier support also).
If it manages to break upside comfortably and holds tomorrow, then we can see the upside targets.
Otherwise lower side supports are marked.
PEL - Targetting 2350-2400 for opening short positions.Targetting 0.618 fib levels from previous peak for shorting the stock
