NSE:PEL ITS NEARING ITS SUPPORT OF 1350, IF IT BREAKS AND SUSTAINS THEN 1300 COMING, ELSE FROM HERE 1400 CAN BE SEEN ON UPSIDE CAUTION - ILLIQUID SCRIPT ************************************************************************************************************************************************ Hi all, Its pleasure to have you all here. I have started...
NSE:PEL Disclaimer: I am not a SEBI register financial advisor, please consult your financial advisor before making any decision.
PEL has broken long term resistence trendline on daily charts. it has been struggling to break resistence line for last few sessions, it broke decisively and continued holding above 200DMA levels. it can easily rally upto 1800 level in coming days. it is the right time to enter for long term. for short term also it can easily generate 20% from current levels.
on daily chart volume has been soured, if given breakout above 1607 go long NSE:PEL PS: for learning purpose only
Short Term Cash Buy PEL @1513 - 1515 SL 1476 TGT 1575 Above VWAP + TK cross over + MACD cross over GO LONG
NSE:PEL Target SL and pattern mentioned on chart only.
Why:- 1. Stock has been bottom out as per the last swing. 2. Monthly expiry short covering may happen. 3. Risk Reward ratio is favorable. 4. 50 EMA touched 200 EMA. (Indicates golden cross over) 5. Today's daily canadle - Shooting Star I will buy Sep 1500CE and sell 1600CE as a SL.
Please do your own research before trading or investing.
Sustain Above 1400 can go long for targets of 1410,1420,1430. with stoploss of 1394
PEL WILL MOVE TOWARDS UPSIDE CAN PUT STOP LOSS AS 1455 AND ENTRY AROUND 1477-1488.