Daily Chart Analysis on

PEL

PEL (Piramal Enterprises Ltd) – Detailed Technical View On the daily chart, PEL has been under consistent selling pressure for the past two weeks, reflecting a clear downward momentum. The weekly chart also supports a bearish outlook, suggesting that the stock is still struggling to find strong buying interest in the near term. In today’s session, the stock opened at ₹1084.00, made a low of ₹1078.90, touched an intraday high of ₹1096.00, and finally closed at ₹1091.70, which is slightly higher than yesterday’s closing price. This small positive closing indicates that buyers are attempting to defend lower levels, especially around ₹1075–₹1080. From an indicator perspective, the stock is currently trading around its 200-day EMA, which is acting as a critical support zone. For the last two sessions, PEL has been able to hold above the ₹1075 level, showing resilience despite the recent decline. On the upside, the immediate resistance is placed near ₹1100, which is acting as a minor hurdle. A decisive close above this level, supported by volume, could potentially change the short-term sentiment from bearish to neutral-to-positive. If the stock sustains above ₹1070 and manages a breakout above ₹1100, it may enter a recovery phase and move towards the next resistance levels. In that case, the stock has the potential to test ₹1150 in the short term and even extend towards ₹1200 in the medium term. However, failure to hold above ₹1070 could invite further selling pressure, dragging the stock lower. •Key Support Zones: ₹1075 – ₹1070 •Immediate Resistance: ₹1100 •Short-term Target (if breakout): ₹1150 •Medium-term Target: ₹1200 Overall, PEL is at a crucial support area. Traders should watch the ₹1070–₹1100 range closely, as the stock’s next directional move will largely depend on how it behaves around these levels.