Rebound Insight
Our Pivot: 29.30
Our Preference: Start buying PAEL above 31.50 and average it out till 30.50 with strict stop loss of 29.30 and profit target at 34.40 with extension towards 36.30.
Alternate Scenario: Downward penetration of 29.30 will call for 28.40 and 27.50.
NOTE: PAEL is being caged in a triangle on daily chart and right now its trying to establish ground above supportive trend line.
Chart with supports & resistances:
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