Swing Opportunity in Sun TV Network
Updated
Go Long above 507.9 for Targets of 536.5, 565.1, and 593.7 with SL 479.3
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. There is a Trendline (marked with green color) which is providing strong support to the stock.
4. The stock may go up to the Trendline (marked with red color) which is providing resistance to the stock.
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. There is a Trendline (marked with green color) which is providing strong support to the stock.
4. The stock may go up to the Trendline (marked with red color) which is providing resistance to the stock.
Trade active
Entry triggered on 15 Sep 2021Trade closed: stop reached
SL hit on 21 Sep 2021
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