PVSLStrong upmove expected from CMP. Breakout of Cup and Handle pattern in daily timeframe, crossed trendline in daily and weekly timeframe.
PVSL trade ideas
POPULAR VEHICLES N SER L S/LSupport and Resistance Levels:
Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
MA Ribbon (EMA 20, EMA 50, EMA 100, EMA 200) :
Above EMA: If the stock price is above the EMA, it suggests a potential uptrend or bullish momentum.
Below EMA: If the stock price is below the EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
Disclaimer:
I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
#PVSL,17% stake held by FII,DII, above 270 udega?#Popular vehicles & services Ltd(PVSL), CMP 263, company is engaged in the business of automobile dealerships in India. They have dealrship with 3 brands Maruti suzuki, Honda cars, Jaguar land rover. They recently listed and what made me interested in this company is FII(7%), DII(10.26%) have 17% holding. Why are they holding such high stakes in a car dealership company? Maybe they can see something that normal investors can't.
Technical analysis tells me that a day close above 270 can open gates towards 1) 280 2) 291 3) 297 4) 305.8(imp level) 5) 321 6)332 7) 338 8) 346(imp level). Once 346 is crossed I will put sl at 320 and try to ride the trend till 387.
Keep eyes open
