Go Long above 1001.1, for a Target of 1078.3 with SL 923.9
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 0.5 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.5 Fibonacci level.
3. In addition to this the stock gave a Trendline breakout.
4. Also there is a gap and the stock may fill it.
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 0.5 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.5 Fibonacci level.
3. In addition to this the stock gave a Trendline breakout.
4. Also there is a gap and the stock may fill it.
Trade active:
Entry triggered on 28 July 2021
Trade closed: target reached:
Target achieved on 26 Aug 2021