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Nimish_Ghagare
Mar 31, 2021 11:37 AM

Swing Opportunity in Century Textiles Long

CENTURY TEXT & INDNSE

Description

Go Long above 467.55 for target 487.7 with SL 447.5

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 that stock is taking support of 0.618 Fibonacci Level.

2. Also a bullish hammer (circled with orange color) is formed at 0.618 Fibonacci Level.

3. In addition to this there is a Support / Resistance zone around 0.618 Fibonacci Level also called a Demand zone marked with a purple rectangle.

Trade active

Entry triggered today (01 April 2021).

Trade closed: stop reached

SL Hit.
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