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PI Industries is into manufacturing of Agro chemicals. With Agri sector emerging as only COVID resilient sector the stock breaking out above previous ATH warrants attention. The stock seems to be on a strong upward momentum with next potential target at around 1825. The stock seems to be a good buy around 20 period Moving Average (hourly time frame) at about 1724...
NSE:PIIND is just made new all time high. Stock is moving into new territory. Clear Breakout on Daily, Weekly & Monthly charts. We are strongly recommending Buy around 1630-1640 levels with Stop loss below 1520 on closing basic with Target of 1850 in next 12-15 weeks.
In addition to seeing the weakest sectors in India breaking to new lows, we’re witnessing some of its leading stocks run out of steam over the short-term. Here’s PI Industries failing to get above resistance near 1,585 and slowly beginning to roll over again. Notice momentum failed to reach overbought territory as well. And there are plenty of other leading stocks...
PIInd 1589 by 28th mar. If it crosses the resistance of 1459
1. Long wicks at the Daily time frame. 2. Bounce back from 100ema price multiple times. 3. Fundamentally strong chemical stock. 4. Major beneficiary from the corona virus. Another stock I know is Deepak Nitrite and which is zooming like no tomorrow.
PI Industries whenever below the RSI support line has bounced back after few days or weeks back and again traded beyond 50 EMA...! Is it one more attempting to touch 50 EMA Next 2 sessions if it attempts and touches 50 EMA, better to wait for a bounce to take a trade.