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⭐️ Ultra Equity Advice #112 | Buy | Expected Profit 10-13% | Arijit Banerjee

  Buy    PIRAMAL ENTERPRISES  

CP#1419.4
IdeaBUY
Buy Range1390 – 1440
Target1560 – 1600
StopLoss*1305
Duration15 – 20 Trading Days
Potential Returns^10 – 13%
CP#IdeaBuy RangeTargetStopLoss*DurationPotential Returns^
1419.4BUY1390 – 14401560 – 1600130515 – 20 Trading Days10 – 13%

# CP – closing price on Feb 05, 2020
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 1490.
^ Potential returns are calculated based on the median of buy range.

 Verify Ultra Equity Advice #112

To verify our authenticity and credibility, do check the trading position update and recommendation timestamp. Be assured such records are permanent and irreversible.

COMPANY OVERVIEW

Piramal Enterprise Limited, is the flagship company of the Piramal Group, led by Ajay Piramal and one of India’s large diversified companies, with a presence in Financial Services, Pharmaceuticals and Healthcare Insights & Analytics. The Group has offices in over 30 countries and a global brand presence in more than 100 markets. In Q3FY20 the company has posted net income of Rs.3,805.67 crore and Net Profit of Rs.598.31 crore as against net income of Rs.3,489.08 crore and net profit of Rs.535.64 crore in the corresponding period last year. Registering a growth of 11.7% in bottom line.

Stock Data
NSE CodePEL
Sectoral IndexNifty 500
52W High2,733.04
52W Low1,290.20
Face Value2
Relative Performance_Piramal Enterprises vs Nifty 500

TECHNICAL OBSERVATIONS (WEEKLY)

  • Price is just above the support line. This support level of 1325 also coincides with earlier support which validates multiple times since the last four years.
  • Based on the weekly chart, we have also seen the price to bounce back from this level and moving higher.
  • Broad market sentiment is bullish and we expect this stock will follow the same direction.
Piramal Enterprises Technical Analysis - Weekly Chart
Piramal Enterprises Technical Analysis - Weekly Chart

TECHNICAL OBSERVATIONS (DAILY)

  • The stock has formed a ‘Bullish Harami’ candlestick pattern at the recent bottom. Such pattern indicates bearish trend may be reversing and it may be good time to enter into a long position.
  • Indicator like CCI have turned bullish on Daily charts.
Piramal Enterprises Technical Analysis - Daily Chart
Piramal Enterprises Technical Analysis - Daily Chart

CONCLUSION - Piramal Enterprise SHARE PRICE FORECAST

Based on our positional trading advice of stocks, Piramal Enterprise share price target will be 184 – 187 in the next few days.

LIVE UPDATE - POSITION & ACTIVITIES

Position: Long Piramal Enterprise at ₹ 1440 | Goodluck Capital by GoodluckCapital on TradingView

Position: Long Piramal Enterprise at ₹ 1440 | Goodluck Capital by GoodluckCapital on TradingView

  • 5 February 2020

    Goodluck Capital Recommendation
    ⭐️ Ultra Equity Advice #112

  • 6 February 2020

    Trade closed: target reached
    🎯 Target hit 1600

  • 6 February 2020

    Comment
    ✔️ Return 11.1%

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MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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