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Ascending triangle signals breakout potential above ₹1,185.
Piramal Enterprise Futures has shown steady upward momentum recently, gaining 1.60% in the latest session to close at ₹1,184.90. The price continues to trade within an ascending channel, nearing a key resistance zone. Price action is consolidating beneath the 78.6% Fibonacci retracement level at ₹1,191, with low volatility as indicated by tight candle spreads and moderate ATR levels.
Trade Recommendation: Buy above ₹1,185 with Target ₹1,250 and Stop-Loss at ₹1,140.
This trade setup is based on the bullish triangle formation and positive momentum indicators. Entry is placed just above resistance to catch a breakout, while the target aligns with the 100% Fibonacci extension at ₹1,276 but is capped at ₹1,250 for a conservative approach.
Trade Recommendation: Buy above ₹1,185 with Target ₹1,250 and Stop-Loss at ₹1,140.
This trade setup is based on the bullish triangle formation and positive momentum indicators. Entry is placed just above resistance to catch a breakout, while the target aligns with the 100% Fibonacci extension at ₹1,276 but is capped at ₹1,250 for a conservative approach.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.