Swing Opportunity in Lic Housing Finance Ltd
Go Long above 414 for Targets of 431.8, and 449.6 with SL 396.2
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 candlestick pattern ( Bullish Harami ) marked with the orange color is formed around 0.618 Fibonacci level.
3. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.618 Fibonacci level.
4. Also there is a strong support zone (marked with purple color), from which the stock is taking support and moving up.
5. The stock may go up to the trendline where it may face resistance thereby filling the gap.
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 candlestick pattern ( Bullish Harami ) marked with the orange color is formed around 0.618 Fibonacci level.
3. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.618 Fibonacci level.
4. Also there is a strong support zone (marked with purple color), from which the stock is taking support and moving up.
5. The stock may go up to the trendline where it may face resistance thereby filling the gap.
Trade active:
Entry triggered on 1 Nov 2021
Trade closed: target reached:
Target 1 achieved on 8 Nov 2021