PEL - Targetting 2350-2400 for opening short positions.Targetting 0.618 fib levels from previous peak for shorting the stock
PEL trade ideas
long piramalDepending on signs of RSI showing strength and MACD crossovers, a pullback to 2400-2450 levels can be safely expected. There's a resistance there. Breaking resistance will determine whether we are in first leg of next wave or decending down to complete 5th leg . But in any case, 2400 levels seem probable.
BSE:PEL
PEL - Imp ZonePEL is trying to cross both the 200EMA and also an important resistance. If it goes above it could give quick returns in the next week.
2459 or 2689 which one comes FIRST, crazy question right?! Lest test this which one reaches first...
PIRAMAL Weak On Support LevelPIRAMAL is bearish on hourly.
It has closed today on support level on daily basis .
Can go short once the support level breaks .
Levels are mentioned in charts .
PELOn-going Trend - Down
So current rallies are mere counter trend rallies.
Price should see 1980 initially, may eventually go below 1800!
PEL: More pain As the support of 2100 has been broken twice that too with high volume, closing near new 52 week low, PEL is heading towards 1650 and 1450. It would be good to wait for these levels before long term investing specially wait for 1650 by December. For Educational purpose. Please do your own analysis before investing.
PEL#PEL now trading near Important level for future trade. If PEL break 1900 level we can see 1300-1500 level and if stock hold these levels we can see some relief rally.
PELEveryones fav stock at the moment...needs a quick bounce from 2500 else could very quickly reach 2300...
PEL: Found support at break out retest PEL: Found support at break out retest and making higher low higher high bullish structure .
Piramal Enterprises Flag pattern on weekly chart , see breakout above 2900 for a atleast 1000 pts rally in a year . stockdada.com
PEL Bearish Volume Spread Analysis VSA1) After a strong up move there was a huge volume but the spread was minimal. but yet the price managed to close in the middle. It could have been the buyers re-entry point
2) There should be a follow through in the up move, but the stock went up without any volume, this can be either buyers withdrawn from the accumulation or the previous volume shall be sellers absorbing the demand.
3) followed by a down bar
4) There was a clear test of supply as shown with a very small volume denoted by letter 'a'.
5) The test indeed is a successful test, We have one more test closing well below. again it is a successful test look at the fall in the stock.
6) It is a no demand up bar, followed by bearish candles.
Now we have a area of support at 2630 region lets observe the price action in that region and come to a conclusion of further fall.
Have this in your watch list guys!!!
Support and Resistance levels - 5 year weeklyJust studying the support and resistance for Piramal Enterprises
PELTake note of Turning Around story in India Pharma Industry. Bottoms are made. Now turning up. PEL was a much sought after stock till a year back. For last one year this good stock has been correcting. Now price is heading towards 200 DMA just like some other Pharma stocks I have been covering. Most of these are showing same pattern. Time to invest.
PIRAMAL ENTERPRISES - A SHORT SETUPCMP 2441
TARGET 2185/1822
STOP 2575
Stock below 200 ema.
Stock has broken key multiple support levels with huge volumes.
Short only below 2425.
ABC in progress.. with A and B complete and C in progress. !! Short with a SL of 3004 .. target of 2700 minimum
