Positional or Longterm Opportunity in KEC

Nimish_Ghagare Updated   
Go Long above 406.55 for Targets of 461.1, and 515.65 with SL 352

Reasons to go Long :

1. On a Weekly timeframe if we draw the Fibonacci retracement tool from the recent swing low (point A) to the recent swing high (point B) then we see stock took support from the 0.5 Fibonacci level.

2. Also a bullish chart pattern Double Bottom is formed around 0.5 Fibonacci level.

3. In addition to this 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
Trade active
Trade closed: target reached:
All targets achieved.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.