*The following are the list of things I would like to mention to support the trade plan: * Support and resistance accepts the trade plan.
*Relative strength shows an over sold position and intimating a buy position in the stock
*Volumes greater than 10 days average and leads to spinning top
Spinning top Spinning top is a candlestick pattern with little body and same up & lower tails. Spinning tops generally conveys there will be a trend reversal in the scrip.
*Fib retracement also supports the trade plan at 875 (50% level) and 860 (61.8% level)