The stock of piramal enterprises limited (pel) has been in an uptRend since Since Early March after it found support at ₹ 850. It rallied and marked a five-wheek high of ₹ 1,147.30 on may. That said, the price action shows that there is a base formation and the price level of ₹ 1,080 is turning out to be a support. On the back of this, we expect pel to resume the rally and appreciate to ₹ 1,220 in the short-term. So, buy the stock of pel at ₹ 1,107 and ₹ 1,090. Stop-Loss Can Be ₹ 1,050. When it rises to ₹ 1,160, Revise the stop-Loss to ₹ 1,100. On a rally to ₹ 1,200, Trail the stop-Loss to ₹ 1,170. Exit at ₹ 1,220.
Video Credit: Businessline
(Note: the recommendations are based on technical analysis. There is a risk of loss in trading.)
Published on June 2, 2025