NSE:PEL Hi Traders, PEL is in sell zone and it is moving in downward direction with a bear flag. A bear flag pattern provides an extension/continuation to an existing downward trend.
Stock Analysis * Stock has broken trend line. * Stock has broken support line. * Developed bearish flag pattern. * Retracement of flag is less than 50% of its Pole.
Sell Level Current price level
Target Level TP1= 1143.20 TP2= 1044.10
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* This analysis is educational/learning purpose only. * Trade at your own risk.
I don't think it will fall more than 1210 1240.
There is a huge support and in this stock, most of the time chart fails and when market supports it booms .
vimal.kr.pathak
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@at1996 In stock market, different person can have different view on same stock. This is my view and I welcome your views too. Thanks for your suggestion.
sudarshan0411
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at what peice the trade should be taken?? what if it opens gap up or gap down??
vimal.kr.pathak
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@sudarshankadadi1 if gap up or gap down then wait for retracement and enter when price develop lower low on 15 min.