Nimish_Ghagare

Swing Opportunity in GSFC

Long
NSE:GSFC   GUJARAT STATE FER
Go Long above 107 for Targets of 111.85, 116.7, and 121.55 with SL 102.15

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 0.618 Fibonacci level.

2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.618 Fibonacci level.

3. Also there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.
Trade active: Entry triggered on 17 Sep 2021
Trade closed: target reached: Target 1 & Target 2 achieved on 20 Sep 2021
Trade closed: target reached: Target 3 achieved on 24 Sep 2021