Stock made a double bottom at 1625 and now giving a breakout from pole and flag pattern on weekly basis.
One can initiate longs here and add aggressively after closing above 2100 on weekly basis.
Stock has potential to touch 2600 and 3000 levels. I have 12-18 months timeframe in my mind.
Stock trend is intact until a weekly close below 1500, which is 50% Fibonacci retracement as well. If you are a short term positional player and don’t want to hold for these targets, then 1500 is a very deep stop loss for you. You can use 1765 on weekly basis as a smaller your stop loss.
Disclaimer - I will initiate longs with 1500 stop loss.
One can initiate longs here and add aggressively after closing above 2100 on weekly basis.
Stock has potential to touch 2600 and 3000 levels. I have 12-18 months timeframe in my mind.
Stock trend is intact until a weekly close below 1500, which is 50% Fibonacci retracement as well. If you are a short term positional player and don’t want to hold for these targets, then 1500 is a very deep stop loss for you. You can use 1765 on weekly basis as a smaller your stop loss.
Disclaimer - I will initiate longs with 1500 stop loss.