Go Long above 715 for Targets of 739, 763, and 787 with SL 691
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 0.382 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.382 Fibonacci level.
3. A bullish candlestick pattern ( Bullish Engulfing ) marked with the orange color is formed around 0.382 Fibonacci level.
4. 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.
5. In addition to this the stock will give Trendline breakout once it crosses 715.
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 0.382 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.382 Fibonacci level.
3. A bullish candlestick pattern ( Bullish Engulfing ) marked with the orange color is formed around 0.382 Fibonacci level.
4. 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.
5. In addition to this the stock will give Trendline breakout once it crosses 715.
Trade active:
Entry triggered on 16 Sep 2021
Trade closed: target reached:
Target 1 achieved on 16 Sep 2021
Trade closed: target reached:
Target 2 achieved on 07 Oct 2021
Trade closed: target reached:
Target 3 achieved on 08 Oct 2021