On the daily chart, Piramal Enterprises has broken out of a wedge pattern resuming the uptrend. Further, volumes have picked up in the breakout affirming strong bullishness dominant.
Further, on the weekly chart, it has turned upwards after forming a double bottom indicating higher levels in the coming trading sessions.
The RSI has turned upwards breaking out of the upper Bollinger Bands suggesting extended bullishness in the coming trading sessions. The stock may be bought in the range of Rs 2,545-2,550 for targets of Rs 2,675-2,910, and a stop loss below Rs 2,440.
Disclaimer: The author Technical Analyst at YES Securities (I) Ltd. The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
First Published on Jun 19, 2018 10:41 am