Swing Opportunity in Ramco Cements
Go Long above 1027.1 for Targets of 1077.95 and 1128.8 with SL 976.25
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. Also a bullish candlestick pattern Inverted Hammer (marked with orange color) is formed around 0.382 Fibonacci level.
4. In addition to this the stock is forming a triangle pattern and is about to give a breakout.
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. Also a bullish candlestick pattern Inverted Hammer (marked with orange color) is formed around 0.382 Fibonacci level.
4. In addition to this the stock is forming a triangle pattern and is about to give a breakout.
Trade active
Entry triggered on 19 Oct 2021.Trade closed: stop reached
SL hit on 20 Oct 2021.
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