Stock is taking support of a rising trend line. At 160-162 levels, stock is having a Fibonacci cluster. Firstly, the H&S pattern, which was formed at the top gets completed at 161.70 (Height of the formation). Secondly, stock is resting at 61.8 Fibonacci retracement level of 162.40, of its previous up move. Risk-Reward is highly favorable at current level. Keeping SL at 160, for a price target of 172. CMP 164.
Trade active
Comment:
Stock has remained sideways. Should pick upward momentum soon.
Comment:
Momentum picked up finally. Range broke-out on the upside. Expect uptrend continuation.
Trade closed: target reached:
Happy Trading :)