Pel is one of those stocks who has not participated in the entire rally. And it was in a down trend for very very long time.
After long long time it is trying to break previous swing high and is creating a W kind of pattern on weekly chart.
Just look at those volumes which was being generated since quite some time.
In daily chart it has tested its resistance 5-6 times already.
what will be interesting is if this stock consolidates for 2-3 days at this level then it can lead to some quick movement.
Keep an eye folks. Fingers crossed.
Do not take trades blindly. Do your analysis and act accordingly.
I am not SEBI registered. Trade with your own risk and trade with caution.
After long long time it is trying to break previous swing high and is creating a W kind of pattern on weekly chart.
In daily chart it has tested its resistance 5-6 times already.
what will be interesting is if this stock consolidates for 2-3 days at this level then it can lead to some quick movement.
Keep an eye folks. Fingers crossed.
Do not take trades blindly. Do your analysis and act accordingly.
I am not SEBI registered. Trade with your own risk and trade with caution.
