Get started
manuagarwal21

PIRAMAL Enterprises - BAT PATTERN

Short
PIRAMAL ENTERPRISE (NSE:PEL)  
manuagarwal21  
NSE:PEL   PIRAMAL ENTERPRISE
Bat Trend Analysis Beyond Technical Analysis PEL piramal shortsetup shortterm Bearish Bat retracement
4
0
batpattern trendanalysis beyondta pel piramal shortsetup shortterm bearishbat retracement
PIRAMAL ENTERPRISE formed bat pattern on its hourly chart, currently trading within its pz zone .i.e. 980-990

The Bat pattern prz coincides with the .382 retracement on the daily chart, hence resistance going to be strong.

Momentum is also lacking in the rally started from 890 levels.

As per my analysis stock is going to retrace some part of its recent rally and may test 930 levels on the downside.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.