Positional or Longterm Opportunity in Balaji Amines
Updated
Go Long @ 2448.1 for Targets of 2686.05, 3160.5, and 3551 with SL 2284.45
Reasons to go Long :
1. On weekly timeframe stock gave Trendline breakout (marked with red color).
2. If we draw Fibonacci retracement from the recent swing low to the swing high then the stock took support from the 0.618 Fibonacci level.
3. In addition to this, the stock formed a Bullish Engulfing pattern around 0.618 Fibonacci level.
Reasons to go Long :
1. On weekly timeframe stock gave Trendline breakout (marked with red color).
2. If we draw Fibonacci retracement from the recent swing low to the swing high then the stock took support from the 0.618 Fibonacci level.
3. In addition to this, the stock formed a Bullish Engulfing pattern around 0.618 Fibonacci level.
Order cancelled
SL Hit before triggering our Buy price.
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