PPL - Hourly Analysis - 12-01-2024

Primary Structure: Bullish Impulsive

Primary Trend: Bullish

Current Wave structure: Potential pullback wave "4".

Expectations:  The rise from the low of the black wave "2" can be counted in five waves. We have achieved all our targets. The bullish momentum may resume after a setback in black wave "4" which can find support around the 38.2% Fibonacci retracement level.

NOTE: Targets met. Made a total of Rs.79 + 70 = 149 in two trades. 
Since our targets are met we are removing this stock from the Hot Picks for now.

Recommendation: 6: Sell all the holdings at 135 positively.
5: Move stops to 56.
4: Hold the longs.
3: Hold the longs and add more from 65 with stops below 35.5.
2: Hold the Longs.
1:  Long position may be considered around 58-56 with stops below 35.5.  Targets will be managed over time.

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