Buy PIRAMAL ENTERPRISES
| CP# | 1419.4 |
| Idea | BUY |
| Buy Range | 1390 – 1440 |
| Target | 1560 – 1600 |
| StopLoss* | 1305 |
| Duration | 15 – 20 Trading Days |
| Potential Returns^ | 10 – 13% |
| CP# | Idea | Buy Range | Target | StopLoss* | Duration | Potential Returns^ |
| 1419.4 | BUY | 1390 – 1440 | 1560 – 1600 | 1305 | 15 – 20 Trading Days | 10 – 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.
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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 Code | PEL |
| Sectoral Index | Nifty 500 |
| 52W High | 2,733.04 |
| 52W Low | 1,290.20 |
| Face Value | 2 |
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.
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.
CONCLUSION - Piramal Enterprise SHARE PRICE FORECAST
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⭐️ Ultra Equity Advice #112: Trading this share can generate an exceptional return - around 10-13% in next 15 days.
— Goodluck Capital (@CapitalGoodluck) February 5, 2020
🔗 Original Post: https://t.co/FaRpWGjBoh#technicalanalysis #trading #tradingtips #tradingstrategy #investments #hedgefund #buysell #nse #GoodluckCapitalUltra