Go Long above 955.1 for Targets of 1005.05, 1055, and 1104.95 with SL 905.15
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.382 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.382 Fibonacci level.
3. In addition to this there is a strong trendline (marked with green color), which is providing support to the stock.
4. Also there is a strong support zone (marked with purple color), from which the stock is taking support and moving up.
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.382 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.382 Fibonacci level.
3. In addition to this there is a strong trendline (marked with green color), which is providing support to the stock.
4. Also there is a strong support zone (marked with purple color), from which the stock is taking support and moving up.
Trade active:
Entry triggered on 2 Dec 2021