Piramal Enterprise has fallen 38 % from its peak.
It has bounced from its long term monthly support .
It has formed nice base and now the price is breaking out.
For a target of 2070 it has upside of nearly 20 percent.
Stop loss can be kept at 1670 (4.3 % below the current market price)
20 / 50 MA firmly behind the price should give good support.
Risk Reward of 1:4 For this trade.
Keep tight stop loss as suggested and enjoy the ride !!!!!!!!!!
It has bounced from its long term monthly support .
It has formed nice base and now the price is breaking out.
For a target of 2070 it has upside of nearly 20 percent.
Stop loss can be kept at 1670 (4.3 % below the current market price)
20 / 50 MA firmly behind the price should give good support.
Risk Reward of 1:4 For this trade.
Keep tight stop loss as suggested and enjoy the ride !!!!!!!!!!
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