Go Long above 229.05 for Targets of 246.4, 263.75, 281.1, 298.45, 315.8, and 333.15 with SL 211.7
Reasons to go Long :
1. On a Weekly 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 0.618 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Harami (marked with orange color) is formed around 0.618 Fibonacci level.
3. Also there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.
no body explained this clear why you take that stand ,it would be of immense help to new entrants..good analysis..sometime averaging is also necesary...i bought this always at the good support..and at the are of confluence..still a fundamentally good company with profits stayed quite a long time at this zone,thanks for the analysis