Positional or Longterm Opportunity in SIS

Nimish_Ghagare Updated   
Go Long above 425.9 for Targets of 439.8, 453.7, 467.6, 481.5, and 495.4 with SL 412

Reasons to go Long :

1. On a Weekly timeframe if we draw the Fibonacci retracement tool from the recent swing low (point A) to the recent swing high (point B) then we see stock took support from the 0.618 Fibonacci level.

2. In addition to this a bullish candlestick pattern Bullish Hammer (marked with orange color) is formed around the 0.618 Fibonacci level.

3. Also there is a strong Trendline (marked with green color), from which the stock is taking support and moving up.
Order cancelled:
The stock did not trigger our Buy price.

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