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AMARAJABAT : Fibonacci Study

NSE:AMARAJABAT   AMARA RAJA BATTERI
*Only for study purpose. Consult financial advisor before taking trading decisions*

After falling from high of 831.5 to low of 750.75,

There was a retracement to .618(800) level before falling below 750.75,
After the fall, we can now see a consolidation at .618(700)

If the price falls below 700 by closing basis, it may go down to 687,
Or else it may bounce back up, where a close above 710 can be buy signal.
The RSI also indicates an upward movement.

Comment: Target 687 reached,
Now we are looking at huge downside break
Comment: For intraday there is the posiibility of retracement to vwap, looking at target of 692.5
Trade closed: target reached: Attempt to climb back up failed.
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