Refer to chart for buy and sell options , for education purpose only
Analysis is part technical and part fundamental. NSE:PFC has been consolidating in a sideways uptrend for almost 13 years. Price has recently taken a rejection from this channel pattern in the month of October. Going with the price action view, price should retrace all the way back to channel support, around 80-90 levels. An established support at these...
NSE:PFC has broken out of a triangle on weekly chart with decent volume. As per height of the triangle, 200 could be a conservative positional target though waiting for break of 153 would be better for entry. Only concern is that this is slightly rising formation but not so much so it could still qualify as a right angle triangle.
Power Finance Corp 15mins chart Descending Triangle 10 Oct 2021. Let me know what you think guys.
I am giving my personal analysis on pfc share.
CUP AND HANDLE PATTERN BREAKOUT CAN BE SEEN IN POWER FINANCE CORP. STOPLOSS AND TARGETS ARE SHOWN IN THE CHART. CAN GO LONG FOR 20-30% RETURNS
Price Action on this chart :- 1. Inverse Head and Shoulders breakout. 2. Trendline Breakout with volume. 3. Price taking support on neckline of H&S Pattern. Buy at CMP of 120 and wait for target of 130.(Gap Filling)
After Friday's close above 135, there is possibility of #PFC to reach 169 / 170 price level. Lets see...
aggressive longs should be taken if the stock breaks the down-trending line.
This analysis is purely based on price action and Chart Patterns. The analysis is on 15min TF hence target can be achieved in intraday trade or in couple of days Trade logic with SL and Target is explained in image itself. Don't chase the price. Always plan your trade & trade your plan Check the idea of ICICIGI linked below to see another CUP & HANDLE Pattern...
Earlier Break Out Was Cup n Handle now journey started For 133 Enjoy hold tight
PFC has form the Bearish Harmonic Pattern and can test the fib .382 and .618 levels before going upward. This idea is for education purpose only.
Power Finance Corporation is a very good buy as it has retraced to breakout support. It will hover for 2 or 3 days or it may rally from here. very good buy opportunity.
BTST BUY PFC @ 90 - 90.50 SL 87.40 TGT 95
PFC (Power Finance Corporation Limited) BUY ABOVE 123
SELL PFC (Power Finance Corporation Limited) BELOW 111.5