PEL - Breakout
After multiple attempts PEL finally closed on the weekly above the 200WEMA..its previously always taken resistance there..
This time in 1 go its crossed the 1) Diagonal Trendline Resistance 2) AVWAP of the down move 3) 200WEMA
There has been demand in the stock that last entire month the futures were almost always in ban due to accumulation.
Long at current price or as close to 950/970 as possible for targets of 1140.
Stoploss for the trade around 900...for traders below the 200WEMA of 952.
This time in 1 go its crossed the 1) Diagonal Trendline Resistance 2) AVWAP of the down move 3) 200WEMA
There has been demand in the stock that last entire month the futures were almost always in ban due to accumulation.
Long at current price or as close to 950/970 as possible for targets of 1140.
Stoploss for the trade around 900...for traders below the 200WEMA of 952.
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