Broke High of Red volume Engulf candle by current candle
Selling Pressure is absorbed by current green candle
Disclaimer : it's my personal view, do your own analysis before taking any trade
Pidilitind forming double bottom on 1 day time frame.
Giving breakout above 2796 level.
Looking tgt 2840-2860-2900++
in very short term.
Keeping on radar Pidilitind 2800 CE
my view on PITILITE to get in to go long at the trendline as per given limited rist of last swing/trendline breakdown.
RSI 40 on support daily timeframe and last day green candle gives long singnal
DISCLAIMER: above is my own personal view only for study purposes.
Price has reacted to a Monthly Supply (Left Side) to reach The Fresh Monthly Demand, basically this is a PPullback before the Upward Impulse, still the Reward to Risk ratio is favourable hence shorting,
The Exit is @ Monthly Demand Entrance so Exit on Time is as critical as the Entry,
ENJOY THE RIDE ! ! !
Bearish flag below the 200 dma. Pidilite is consolidating at 2300 which is a strong support. And break below can take it to 2000 which is the next support.
Execution - take in the money calls at 2400 as they are cheap on iv basis. 2400 puts at 100. Stop loss at 2360 which would be 50 bucks. Target of 2100 or above the next logical support shown on the chart.
a monopoly stock, with great returns in a year, is the greatest thing to have.
a detailed analysis is written down:
firstly , the red trend, is the original trend past corona crash.
now since the markets had become bullish post corona crash, it has formed a new trend, and that is drawn by dark black line. the red line resistance, has now become support of...
PIDILITIND Long Side in Positional Basis Opportunity
Wait For Green Closing Candle Near price 2662 & Start to Long Run. Current Hourly & 30 Min TF is bearish so wait For One Daily Time frame Green Candle & enter.
Buying Price - 2662
Stoploss Price - 2590
Target Price - 2920
NSE:PIDILITIND
One Can Enter Now ! Or Wait for Retest of the FIB Level.
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose!
PIDILITE has been performing quite well.
It recently took the support at the 2800 levels and rebounded beautifully back to 2869.
We can go long once the stock crosses 2875, with a stop loss of 6 and a target of 2900.
