Go Long above 1204.55 for Targets of 1259.55, and 1314.55 with SL 1149.55
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. Also a bullish candlestick pattern Bullish Harami (marked with orange color) 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 there is a gap (marked with blue color) that is yet to be filled.
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. Also a bullish candlestick pattern Bullish Harami (marked with orange color) 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 there is a gap (marked with blue color) that is yet to be filled.