PEL !! PIRAMAL ENTERPRISES LTD appear to be in a Breakout phase

This is the Daily Chart of PIRAMAL ENTERPRISES LTD.

PEL is trading above the midline of its ascending parallel channel, with strong support in the ₹1080–₹1150 zone. Historically, whenever it sustains above the midline, it tends to retest the upper boundary resistance of the channel near at 1500 -1540.

If this level is sustain then we may see higher prices in PEL.

Thank You !!