Generic construction - Given a Breakout and ready for 183 level

The generic construction has given a breakout and ready to test its 38.2% retrenchment level which is @ 160 and once above it will go for our second target of 173 and finally 183 level. Giving a good return of 10% to 20% from current level of 153.

This is based on Fibonacci retrenchment levels as shown in the chart. Good luck with your trade.

Please keep a stop loss of 140.

Trade active:

Tested 160 levels today, despite fall in market closed in positive. This clearly shows good momentum and ready for 183 level.

Trade closed: target reached