Details:
Asset: PI Industries Ltd (PIIND)
Breakout Level: 3840
Potential Targets: 4000, 4500, 4700
Stop Loss: 3740
Timeframe: Short to Medium Term
Rationale: PIIND has broken out from a well-defined ascending channel on the daily chart. The breakout above 3840 is supported by strong volume and bullish price action.
Market Analysis:
Technical Setup: Sustained breakout from the channel with follow-through buying indicates strength.
Sector Trend: Agrochemical stocks are witnessing renewed interest due to strong demand and monsoon expectations.
Risk Management:
Stop loss at 3740 to protect against false breakout or trend reversal.
Risk-Reward Ratio:
Favorable, offering a potential return of 1:2.5 or more based on targets.
Watch for strong daily closes above 3840 and increasing volume for confirmation of trend continuation.
Asset: PI Industries Ltd (PIIND)
Breakout Level: 3840
Potential Targets: 4000, 4500, 4700
Stop Loss: 3740
Timeframe: Short to Medium Term
Rationale: PIIND has broken out from a well-defined ascending channel on the daily chart. The breakout above 3840 is supported by strong volume and bullish price action.
Market Analysis:
Technical Setup: Sustained breakout from the channel with follow-through buying indicates strength.
Sector Trend: Agrochemical stocks are witnessing renewed interest due to strong demand and monsoon expectations.
Risk Management:
Stop loss at 3740 to protect against false breakout or trend reversal.
Risk-Reward Ratio:
Favorable, offering a potential return of 1:2.5 or more based on targets.
Watch for strong daily closes above 3840 and increasing volume for confirmation of trend continuation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.