Hello fellow traders! Hope you’re all doing well.
Today, I’d like to share my technical outlook on PIRAMAL PHARMA (PPLPHARMA).
Key Observations:
1. Rising Channel (Ascending Wedge): The price is currently respecting the lower trendline, which is acting as a key support zone.
2. Bullish Engulfing: A bullish engulfing pattern has appeared near the support line, indicating renewed buying interest.
3. Target: I’m anticipating a potential move toward ₹236, which aligns with the upper boundary of the channel.
4. Stop Loss: A strict stop loss is placed at ₹200 (closing basis). The setup remains valid as long as the trendline holds.
5. Risk-Reward Ratio: This trade setup offers a favorable 1:2 risk-to-reward opportunity.
Disclaimer:
This is a personal analysis and not financial advice. Please do your own research and trade responsibly. Risk management is key.
Thanks for reading!
Looking forward to your thoughts and feedback.
Best regards,
Anantesh
Today, I’d like to share my technical outlook on PIRAMAL PHARMA (PPLPHARMA).
Key Observations:
1. Rising Channel (Ascending Wedge): The price is currently respecting the lower trendline, which is acting as a key support zone.
2. Bullish Engulfing: A bullish engulfing pattern has appeared near the support line, indicating renewed buying interest.
3. Target: I’m anticipating a potential move toward ₹236, which aligns with the upper boundary of the channel.
4. Stop Loss: A strict stop loss is placed at ₹200 (closing basis). The setup remains valid as long as the trendline holds.
5. Risk-Reward Ratio: This trade setup offers a favorable 1:2 risk-to-reward opportunity.
Disclaimer:
This is a personal analysis and not financial advice. Please do your own research and trade responsibly. Risk management is key.
Thanks for reading!
Looking forward to your thoughts and feedback.
Best regards,
Anantesh
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