PIIND gonna pay for its sins!!!The sins that PIIND did are!
1. Breaking above its ATH with a big bullish candle!
2. Huge spike in volume!
3.Not sustaining above its ATH!
4. Forming a inverted hammer at resistance 2 days back!
These many sins are enough now!
Buyers are trapped!
Earlier when the similar stuff happened, the stock declined by almost 20%!
Too many negatives with only one positive!
If and only if it somehow breaks above its ATH, we may see more positive moves!
Otherwise, you know what's to be done!
PIIND trade ideas
PI INDUSTRY - Positional Trade + Keep an Eye๐ Script: PIIND ( PI INDUSTRIES LIMITED)
๐ Nifty50 Stock: NO
๐ Sectoral Index: NIFTY 500
๐ Sector: Chemicals ( Commodities )
๐ Industry: Pesticides & Agrochemicals
Key highlights: ๐กโก
On basis of Weekly Chart
๐ Script is trading at upper band of Bollinger Bands (BB).
๐ MACD is giving crossover.
๐ Double Moving Averages also giving crossover.
๐ Script is forming Cup & Handle pattern on weekly chart as shown into chart.
๐ Script is facing Hurdle at near 3534 level which is also Neckline of Cup & Handle Pattern.
๐ Volume is increasing along with price.
๐ Current RSI is around 64.
๐ One can go for Swing Trade above 3534.
BUY ONLY ABOVE 3534 LEVEL
โฑ๏ธ C.M.P ๐๐ฐ- 3485
๐ข Target ๐ฏ๐ - 4000
โ ๏ธ Stoploss โ ๏ธ๐ซ - 317
โ ๏ธ Important: Always maintain your Risk & Reward Ratio.
โ ๏ธ Purely technical based pick.
โ
Like and follow to never miss a new idea!โ
Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
Eat๐ Sleep๐ด TradingView๐ Repeat๐
Happy learning with trading. Cheers!๐ฅ
PI INDUSTRIES ANALYSIS!!RSI INDICATOR: is something which says the actually part of the price should be placed.
cups and handles is a very bullish price pattern formation.
and top of that, if rsi indicator is forming such pattern, then to speak on to it, the stock is a very great stock.
i have check the fundamentals. the rations, sales analysis are very greatly performing.
the two black line are the trend formation after the corona 2019 crash.
and blue line is the old trend.
the stock did gave its all time high recently. its possible to go more higher, since there is no drawback, or major risks associated to this stock.
recent quarters too outperformed from the analyst projected estimates.
great stock for swing trading and long term .
PI INDUSTRY - TECHNICAL ANALYSIS ๐ Script: PIIND (PI INDUSTRIES LIMITED)
๐ Nifty50 Stock: NO
๐ Sectoral Index: NIFTY 500
๐ Sector: Chemicals (Commodities)
๐ Industry: Pesticides & Agrochemicals
๐ MACD is giving crossover.
๐Prices are increasing with volume.
๐ Already crossover at Double Moving Average.
๐ Stock is trading at upper band of BB.
๐ Right now RSI is around 74.
๐ข Target ๐ฏ๐ - 3450
โ ๏ธ Stoploss โ ๏ธ๐ซ - 3143
โ ๏ธ Important: Always maintain your Risk & Reward Ratio.
โ
Like and follow to never miss a new idea!โ
Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
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