Go Long above 394.1 for Targets 538.2 with SL 250
Reason to go Long :
1. The stock is forming Dow Theory in the form of waves (A - B - C - D - E).
2. Also stock gave trendline breakout with high volumes.
3. if we draw the Fibonacci retracement tool from recent swing low (point B) to recent swing high (point C) then we see stock took support from 0.5 Fibonacci level.
Reason to go Long :
1. The stock is forming Dow Theory in the form of waves (A - B - C - D - E).
2. Also stock gave trendline breakout with high volumes.
3. if we draw the Fibonacci retracement tool from recent swing low (point B) to recent swing high (point C) then we see stock took support from 0.5 Fibonacci level.
Trade active:
Entry triggered on 30 July 2021