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PEL looks good for an upmove as it broke the counter-trendline on multiple timeframe.
Levels and all Information mentioned in the charts above.
Buy Above 2720 for the levels marked.
Demand zone - Green Rectangle
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PEL is still respecting its uptrend and bounced from the box bottom. Can look to buy a smaller allocation now at CMP and if markets correct look for another bounce around 2500 to up the allocation.
This stock is going to be a great compounder going forward with a dual pharma and finance company.
SL for this would be 2400. Keeping it slightly deeper since...
Pel, within wave III, wave 1 & 3 were equal, therefore, there is a good chance of wave 5 of wave III getting extended. within wave 5, lower degree wave i and ii looks complete and wave III should now unfold. daily oscillator stochastic has completed its pullback cycle and turned positive in oversold zones, and bands have narrowed. once macd turns positive and...
pel has reached 78.6 retracement of its all time high , so keeping a stoploss of around 90 points a short can be initiated for target of 90 points initially which can be trailed with modified stoploss.