Head & Shoulder pattern breakout in PIDILITINDPIDILITE INDUSTRIES LTD
Key highlights: 💡⚡
✅On 1Hour Time Frame Stock Showing Breakout of Head & Shoulder Pattern.
✅ Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 2616+.
✅Can Go Long in this stock by placing a stop loss below 2515-.
PIDILITIND trade ideas
Pidilite - Cup & Handle Formation
PIDILITE IND LTD (JULY23 - CMP RS 2662.80)
Cup Pattern
#Phase1 - saw a sharp down move from Dec22 to Jan23
#Phase2 - Formed a slow base between Jan23 to Apr23
#Phase3 - From May23 - Jun23 it steadily moved up
When you add up the 3 phases - the Cup Pattern is visible in the Price Action.
Handle Pattern
#Phase4 - Between Jun23 and Jul23 the Price of Pidilite underwent the next small phase of correction
Phase#5 the Stock price saw a gradual upmove.
When you look at the full move of #Phase4 and #Phase5 - it resembles the Handle of the Cup
The Cup & Handle is a bullish continuation pattern which means that it is usually indicative of a future increase in price once the pattern is complete. Willing Buyers take exposure after the formation of the Handle is complete and push the Price upwards.
If the Pattern is successful, the Price can be expected to rally towards the life time highs of Rs 2918.95 implying a potential 9.6% up-move from the CMP of Rs 2662.80 as on July 21, 2023. The Price appreciation could play out over the next 3-4 months.
Morning Star on PIDILITE INDPIDILITE Industries' daily chart shows a Morning Star candlestick pattern, finding support at the 50 EMA and the Fibonacci 61.8% level. The 14-period stochastic oscillator indicates an oversold condition and recent reversal, confirming a potential uptrend ahead. Bullish signals suggest positive price movement.
Buy at Market, Target at 2700, Stop Loss at 2550
PIDILITE INDUSTRIESA cup with handle has formed a daily chart like a copy book in PDILITE industries and the cup with handle has broken out with volume. When PIDILITE INDUSTRIES retests 2570-2600 RS level then we can plan a safe entry in it by placing a stop loss of 2496Rs. We can see the target 2760 2900 3080 3170 & above.
*Do your own research, this is not my recommendation*
PIDILITE INDUSTRIESA cup with handle has formed a daily chart like a copy book in PDILITE industries and the cup with handle has broken out with volume. When PIDILITE INDUSTRIES retests 2570-2600 RS level then we can plan a safe entry in it by placing a stop loss of 2496Rs. We can see the target 2760 2900 3080 3170 & above.
*Do your own research, this is not my recommendation*
PIDILITE INDUSTRIESA cup with handle has formed a daily chart like a copy book in PDILITE industries and the cup with handle has broken out with volume. When PIDILITE INDUSTRIES retests 2570-2600 RS level then we can plan a safe entry in it by placing a stop loss of 2496Rs. We can see the target 2760 2900 3080 3170 & above.
*Do your own research, this is not my recommendation*
{PIDILITE}:{SHORT for 3:1}
Price has reacted to a Monthly Supply (Left Side) to reach The Fresh Monthly Demand, basically this is a PPullback before the Upward Impulse, still the Reward to Risk ratio is favourable hence shorting,
The Exit is @ Monthly Demand Entrance so Exit on Time is as critical as the Entry,
ENJOY THE RIDE ! ! !
PIDILITIND CONOLIDATION BREAKOUT SOON!!The price consolidating itself near demand zone from a very long time. Price respects the support level of 2240 and takes support & moved towards upside to the breakout level. If price breaks the levels of 2355 and closes than we can expect good upmove in coming days.
#PIDILITIND📊
👉Keep in watchlist
👉Breakout Possible above 2855+ Close
👉Support At 2240
👉Good Consolidation near Demand Zone.
👉Above Breakout , Good move possible towards upside.✅🎯
Bearish flag pidiliteBearish flag below the 200 dma. Pidilite is consolidating at 2300 which is a strong support. And break below can take it to 2000 which is the next support.
Execution - take in the money calls at 2400 as they are cheap on iv basis. 2400 puts at 100. Stop loss at 2360 which would be 50 bucks. Target of 2100 or above the next logical support shown on the chart.
PIDILITIND : Strong support zonePIDILITIND is trading in box range since long time and near strong support.
Good RR if we have breakout of Box range.
Levels are marked on chart for intraday. Follow price action and become Price action chart Specialist.
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
I may be 100% wrong as its my personal trade.
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