(Fibonacci retracement in weekly chart of BURGERKING, from swing low of 14th Dec 2020 to Swing high of 17th December 2020.)
It is retracing after making a dip around 0.786 region (120-130 INR) and has crossed 0.618 region (148.5 INR).
It might speed up again above 157-159 region. Maintain strict stop loss below this 0.618 region.
You may hold the trade up until 180-185 region. Risk takers can wait till 192-194 region.
Above 194 could be riskier than usual. Because when it got listed, it hit Upper circuit for straight 3 days and stopped this streak at 194. The very next day, it began falling steeply.
PS: I am not a SEBI registered advisor. Enter in trades after reaching out to your advisors or at your own risk.
It is retracing after making a dip around 0.786 region (120-130 INR) and has crossed 0.618 region (148.5 INR).
It might speed up again above 157-159 region. Maintain strict stop loss below this 0.618 region.
You may hold the trade up until 180-185 region. Risk takers can wait till 192-194 region.
Above 194 could be riskier than usual. Because when it got listed, it hit Upper circuit for straight 3 days and stopped this streak at 194. The very next day, it began falling steeply.
PS: I am not a SEBI registered advisor. Enter in trades after reaching out to your advisors or at your own risk.