Go Long above 542 for Targets of 565, 588, and 611 with SL 519
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 candlestick pattern, Bullish Engulfing (marked with an orange circle) is formed at 0.382 Fibonacci level.
3. Also there is a trendline that is providing support to the stock and today it formed Bullish Engulfing.
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 candlestick pattern, Bullish Engulfing (marked with an orange circle) is formed at 0.382 Fibonacci level.
3. Also there is a trendline that is providing support to the stock and today it formed Bullish Engulfing.
Trade active:
Entry triggered on 22 June 2021
Trade closed: target reached:
Target 1 achieved on 28 July 2021