Go Long @ 918.55 for Targets of 1109.65, 1205.2, 1300.75, and 1491.85 with SL 439.15
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 0.618 Fibonacci level.
2. Besides, a bullish candlestick pattern Bullish Hammer (marked with orange) is formed around the 0.618 Fibonacci level.
3. In addition to this there is a strong demand zone (marked with purple) which earlier was acting like resistance but now is providing support to the stock.
4. There is also a strong Trendline (marked with green) that is providing support to the stock.
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 0.618 Fibonacci level.
2. Besides, a bullish candlestick pattern Bullish Hammer (marked with orange) is formed around the 0.618 Fibonacci level.
3. In addition to this there is a strong demand zone (marked with purple) which earlier was acting like resistance but now is providing support to the stock.
4. There is also a strong Trendline (marked with green) that is providing support to the stock.
Trade active
Trade closed: target reached
Target 1 AchievedNote
Targets 2 & 3 achieved
Disclaimer
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.
Disclaimer
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.