Technical Pick – Piramal Enterprises
• Piramal Enterprises is finding support at 2780 and resistance above 2825.
•On Daily chart, Piramal Enterprises is showing breakout point above 2825 level.Break and sustain above 2825 will see nonstop rally till 2870--2920++ in weeks to come.
•Piramal Enterprises has been trading in a broader range of 1377--3083 for last one year.
•Daily 14 period RSI has turned up from near levels and is trading above 62 which indicates it the stock is turning bullish.
•Traders don’t go for aggressive or positional selling at all because trend looks positive and we expect rally to remain continue till 2870--2920+++mark in coming weeks.
For positional trade, stop loss seeing below 2780 on closing basis which in unlikely to breach in near terms.
Trading Recommendation(14-09-17)
Buy Piramal Enterprises above 2825 and for the initial upside target of 2870--2920++ mark with stop loss below 2780 on closing basis.
More will update soon!!
