PIRAMAL analysisPIRAMAL is long with good profit potential.
123 trend change
Stock above 200 MA
Inverse head and shoulder broken with good volume
PEL trade ideas
Piramal EnterprisesFor Short : Medium Term
Buy on breakout of 2005.5 on higher volumes.
SL1 : 1773.55
SL2 : 1178
TGT 1 : 2068.7
TGT 2 : 2558.35 +/- 2560
Additional Confirmation:
Daily RSI (14) crossing up 70. - relative strength of price over 14 days.
Daily Chaikin Money Flow : crossing .25, increase in price on higher volumes.
Daily Stochastic : (i) Fast Stochastic crossing up Slow Stochastic. (ii) Fast Stochastic crossing below 80 and back. (iii) Waiting for oversold conditions on the stochastic (below 20)
Daily MACD : Currently bullish. One can wait for a correction and a bullish crossover.
IMO, the chart has already begun its next leg and if the other indicators do confirm the movement, it is unlikely to correct much further in the near future. This would likely mean, that some of the indicators mentioned above will not provide the necessary crossover and confirmation in the near future and will continue their present course.
Volume however, is something that would be important to look out for.
Lastly, this is not any indication of the fundamental value of the stock.
* Not investment advice and I own some of this stock.
PEL - Bullish H&S Pattern Breakout - SwingThis analysis is done purely on basis of price action and chart patterns
Analysis is done on Daily TF hence it may take few days to few weeks for price to reach the given target
Trade set up with SL and target is shown in image itself.
This is not a trade recommendation. Do your own study before entering into any trade.
Trade with your own risk & money management.
Feel Free to comment for any query or suggestion.
PEL LOOK OUT FOR THESE LEVELS!!! ALL THE LEVELS AND PATTERNS ARE MARKED ON CHART, RED ZONES DENOTES SUPPLY ZONES AND GREEN IS FOR DEMAND ZONE .
BUY NEAR 1475-1456
The indicator used:
1) Daily Lines plots Daily 20 (BLACK) & 50 EMA (GREY) on lower time frame charts - NOT ACTIVE IN THIS CHART.
2) TE-REKAB - PROPRIETARY INDICATOR
- PB : PULLBACK
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The analysis is my POV, hope you got bucks in your pocket to consult a financial advisor before investing :P :)
HAPPY TRADING!!!
PEL - Upholding the upward trending line.Piramal Enterprises @ 1480 - Weekly Chart
1. In mid 2018, it touched all time high of 3000 odd levels and since then stock is getting sold at every rally - see the parabolic downward trend curve alongwith the highlighted price levels. Sheer selling.
2. In last four-six months, it has kind of formed some uptrend but getting stuck at resistence - see the red rectangle drawn there, 1520~1550 is that zone wherein it's finding the resistance. May be stock is waiting for news trigger.
3. The red line denotes the price at which max number of shares are bought/sold- 1420 in current case. Hence, the stock moving aggressively to either side of line will be "the direction" of it for the next few months.
4. Currently, it is definitely showing a BULLISH TREND ( in the last session, it moved up by 3 odd percentage and buying was quite consistent )
