Go Long above 2524.3 for Targets of 2597.6, 2670.9, and 2744.2 with SL 2451
Reason to go Long :
1. The stock formed a bullish chart pattern, Cup & Handle pattern.
2. 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.
3. A bullish candlestick pattern, Bullish Engulfing (marked with an orange circle) is formed at 0.618 Fibonacci level.
Reason to go Long :
1. The stock formed a bullish chart pattern, Cup & Handle pattern.
2. 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.
3. A bullish candlestick pattern, Bullish Engulfing (marked with an orange circle) is formed at 0.618 Fibonacci level.
Trade active:
Entry triggered on 22 June 2021
Trade closed: stop reached:
SL hit on 2 July 2021