📈 PEL | Piramal Enterprises Ltd
Multi-month base | VCP traits | Breakout on volume watch
🔍 Technical Highlights:
Volume spurt: 5x relative to recent sessions – clear institutional interest 🧠
Bullish engulfing candle on 7 May 2025, signaling a strong reversal attempt
Closed above 200 DMA, trading above 50 DMA, and just above 30 WMA – early signs of trend re-alignment
Price is forming a VCP-like structure within a Stage 1 base
Breakout is aligning with a Higher High–Higher Low (HH–HL) structure
Took support at a rising trendline that’s been respected since April 2023
⚠️ Key Risk Considerations:
Fundamentals are weak – poor ROE & ROCE, and RSI is unimpressive
Broader market is not supportive — Nifty 500 is still below 200 DMA
This may be an early breakout attempt — confirmation is everything
No clean follow-up yet post breakout day – wait for continuation
🧭 Why Watch This?
Despite fundamental weaknesses, technicals are improving rapidly:
Volume is stepping up
Price is testing long-term moving averages
Structure is getting tighter (VCP traits visible)
A clean breakout and follow-through above ₹1,075–₹1,140 could unlock Stage 2 potential
🎯 Trade Levels:
Entry: Above ₹1,075.6 (confirmation required)
SL (Closing Basis): ₹895.2
Positional Target 1: ₹1,276
Positional Target 2: ₹1,658
ATH Review Zone: ₹1,761
💰 Risk–Reward
Risk = ₹1,075.6 – ₹895.2 = ₹180.4
Reward to T1 = ₹1,276 – ₹1,075.6 = ₹200.4 → R:R = 1 : 1.11
Reward to T2 = ₹1,658 – ₹1,075.6 = ₹582.4 → R:R = 1 : 3.23
🛡️ Trader's Note
Position sizing is not optional — it's your only protection.
This is a setup driven by volume, structure, and levels — not by fundamentals.
If this breakout holds, momentum traders may pile in — but don’t front-run it blindly.
📌 Quarterly results are around the corner — trade with caution as earnings volatility can invalidate technicals.
📌 If price reaches ATH, review for new risk-reward alignment and partial booking.
📜 Disclaimer: This is a technical perspective, not investment advice. For educational purposes only. Trade safe, trade smart.
Multi-month base | VCP traits | Breakout on volume watch
🔍 Technical Highlights:
Volume spurt: 5x relative to recent sessions – clear institutional interest 🧠
Bullish engulfing candle on 7 May 2025, signaling a strong reversal attempt
Closed above 200 DMA, trading above 50 DMA, and just above 30 WMA – early signs of trend re-alignment
Price is forming a VCP-like structure within a Stage 1 base
Breakout is aligning with a Higher High–Higher Low (HH–HL) structure
Took support at a rising trendline that’s been respected since April 2023
⚠️ Key Risk Considerations:
Fundamentals are weak – poor ROE & ROCE, and RSI is unimpressive
Broader market is not supportive — Nifty 500 is still below 200 DMA
This may be an early breakout attempt — confirmation is everything
No clean follow-up yet post breakout day – wait for continuation
🧭 Why Watch This?
Despite fundamental weaknesses, technicals are improving rapidly:
Volume is stepping up
Price is testing long-term moving averages
Structure is getting tighter (VCP traits visible)
A clean breakout and follow-through above ₹1,075–₹1,140 could unlock Stage 2 potential
🎯 Trade Levels:
Entry: Above ₹1,075.6 (confirmation required)
SL (Closing Basis): ₹895.2
Positional Target 1: ₹1,276
Positional Target 2: ₹1,658
ATH Review Zone: ₹1,761
💰 Risk–Reward
Risk = ₹1,075.6 – ₹895.2 = ₹180.4
Reward to T1 = ₹1,276 – ₹1,075.6 = ₹200.4 → R:R = 1 : 1.11
Reward to T2 = ₹1,658 – ₹1,075.6 = ₹582.4 → R:R = 1 : 3.23
🛡️ Trader's Note
Position sizing is not optional — it's your only protection.
This is a setup driven by volume, structure, and levels — not by fundamentals.
If this breakout holds, momentum traders may pile in — but don’t front-run it blindly.
📌 Quarterly results are around the corner — trade with caution as earnings volatility can invalidate technicals.
📌 If price reaches ATH, review for new risk-reward alignment and partial booking.
📜 Disclaimer: This is a technical perspective, not investment advice. For educational purposes only. Trade safe, trade smart.
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