SWING IDEA - PIDILITE INDUSTRIES

PIDILITE INDUSTRIES looks good for a swing trade. This stock is a fundamentally strong and is now available at a discount as per technicals.

The Reasons are listed below :

• Strong support at 2250-2300 levels.
  
• Formed a strong bullish engulfing candle on weekly timeframe.
  
• 0.382 Fibonacci support.
  
• Broke falling wedge pattern i.e a bullish sign.
  
• Holding onto 2450 levels from last 2 weeks.
  

Target - 2735 // 2918
SL - 2300 on closing basis

Comment:

Currently, the stock is up by 4% from our buying price.
HOLD !!

Comment:

We are up by 7.2% from our buying price. We can hold this for target.

Trade closed: target reached:

first target is done.
got 11%+ in this trade.
we an hold for further targets.

Trade closed: target reached:

2nd target achieved - 20%+

Comment:

price is holding above the previous swing, we can hold our trade.
Keep trailing.

Comment:

This week's candle closed above the recent swing.
Momentum seems strong, we can hold this.

Comment:

24% ++ achieved