Note: This is for educational purpose only.
There seems to be a bullish breakout post 2 months of consolidation. The breakout seems to be supported with high volume.
RSI at 60 indicates bullish momentum. Moreover, the price has reversed from 50 EMA which acts as a dynamic support.
SL: ₹ 342
Levels Are Mention on Chart.
50% isn’t really a Fibonacci retracement level, but is based on other technical analysis theories that state a pullback will often retrace about half of the prior advance . Since this does seem to hold true, 50% is often included when discussing Fibonacci retracement levels.