Long
Swing Opportunity in Minda Industries
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 2021Trade closed: target reached
Target 1 achieved on 16 Sep 2021Trade closed: target reached
Target 2 achieved on 07 Oct 2021Trade closed: target reached
Target 3 achieved on 08 Oct 2021
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.