Pidilite Industries - Value Areas & Support Resitance
I have identified the key price value areas on the daily chart.
1400 is the control price over last few days.
The stock is trading at a key price rebound level of 1390.
1385 is a clear Support which has seen tails getting rejected sharply from this level.
The stock has also taken resistance from the control price indicate Bears are taking control.
However there is no clear Excess or Tail on the upside of the value area to indicate a downward move.
So, watch out for a clear break below 1385 to take Short positions.
Targets can be 1370 and 1350 with SL at 1400.
1400 is the control price over last few days.
The stock is trading at a key price rebound level of 1390.
1385 is a clear Support which has seen tails getting rejected sharply from this level.
The stock has also taken resistance from the control price indicate Bears are taking control.
However there is no clear Excess or Tail on the upside of the value area to indicate a downward move.
So, watch out for a clear break below 1385 to take Short positions.
Targets can be 1370 and 1350 with SL at 1400.
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