Go Long above 306.55 for Targets of 326.65 and 346.75 with SL 286.45
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 0.382 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.382 Fibonacci level.
3. In addition to this the stock has given a Trendline breakout.
4. Also there is a strong demand zone (marked with purple color), from which the stock is taking support and moving up.
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 0.382 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.382 Fibonacci level.
3. In addition to this the stock has given a Trendline breakout.
4. Also there is a strong demand zone (marked with purple color), from which the stock is taking support and moving up.
Trade active:
Entry triggered on 13 Aug 2021
Trade closed: stop reached:
SL hit on 20 Aug 2021