PEL has gievn breakout earlier. After the 1st eliot Wave it had a nice consolidation and now ready to go for wave 2. people who missed the 1st wave entry can enter here.
Reason:
Verdict
Bullish
Plan of action:
Buy: 1128
Stoploss: 1089
Target 1299
Reason:
- Eliot Wave thoery 2nd wave is about to start
- RSI is bullish Zone, and showing RSI bullish Diversion.
- Price is > EMAs
- Price has taken support at VWAP.
- Break of the important resistance after nice accumulation.
- Bullish trangle breakout to the upside.
Verdict
Bullish
Plan of action:
Buy: 1128
Stoploss: 1089
Target 1299