PVR

2020年6月21日

PVR followed wedge pattern and then a smart recovery where in price gained by whoping 73 percent.
Pull back was seen at these levels and this pullback ended exactly at the gap produced on 4th May which acted as support.
From fibonacci point of view this pullback ended at 50 percent retracement of the move at same levels.
So a conflunce of support with GAP/50 percent retracement was seen there.

Price has been consolodating at 970 levels from last 12 trading sessions and has formed a nice base.
Also please note the volume is shrinking.. so a compression can be seen there as well.


Stock can be bought at these levels.

CMP: 1025
Target : 1342
SL: 950
UPSIDE: 30%
Time Frame : 1-2 Weeks.

Risk Reward : 4.72