Go Long above 36.45 for Targets of 38.6, 40.75, and 42.9 with SL 34.3
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. Also there is a strong support zone (marked with purple color), from which the stock is taking support and moving up.
4. In addition to this the stock has given Trendline breakout.
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. Also there is a strong support zone (marked with purple color), from which the stock is taking support and moving up.
4. In addition to this the stock has given Trendline breakout.
Trade active:
Entry triggered on 17 Sep 2021
Trade closed: stop reached:
SL hit on 21 Sep 2021