Verdict
Bullish

Plan of action:
Buy: 1128
Stoploss: 1089
Target 1299

PEL has gievn breakout earlier. After the 1st eliot Wave it had a nice consolidation and now ready to go for wave 2. people who missed the 1st wave entry can enter here.

Reason:

  1. Eliot Wave thoery 2nd wave is about to start
  2. RSI is bullish Zone, and showing RSI bullish Diversion.
  3. Price is > EMAs
  4. Price has taken support at VWAP.
  5. Break of the important resistance after nice accumulation.
  6. Bullish trangle breakout to the upside.

Verdict
Bullish

Plan of action:
Buy: 1128
Stoploss: 1089
Target 1299

*****Disclaimer:*****

The information provided in this blog post is for informational purposes only. It is not intended as financial, investment, or trading advice. The author is not a licensed financial advisor or professional.

Trading and investing in financial markets carry inherent risks, and past performance is not indicative of future results. Readers should conduct their research, consider their risk tolerance, and consult with a qualified financial advisor before making any trading or investment decisions.

The author is not responsible for any financial losses or gains that may result from actions taken based on the information presented in this blog post. All trading and investment decisions are made at the reader’s own discretion and risk.

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