RAJNAM

PULL BACK & BREAKOUT LEVELS

Long
NSE:PHILIPCARB   PHILLIPS CARBON BL
Philip carbon is giving two trade possibilities as it is the mid zone of resistance and support.

A pullback around 150 is a good zone for pullback entry. And a break above 180 is good for long as well.
Using the fib extension analysis - it makes sense to wait for the pullback as the breakout zone (180) is close to 1.6 fib ext levels (which can be used as possible target-1)
Comment: Stock has shown strength today despite signs of market correction.
Trade closed: target reached: 01/22 - Touched the target levels of 207.3

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