Positional or Longterm Opportunity in Dhanuka Agritech
Go Long above 740.1 for Targets of 817.45, 894.8 and 972.15 with SL 662.75
Reasons to go Long :
1. On a Weekly 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. Fibonacci level.
2. Also a bullish candlestick pattern Bullish Hammer (marked with orange color) is formed around 0.5 Fibonacci level.
3. In addition to this there is a strong support zone (marked with purple color), from which the stock is taking support and moving up.
Reasons to go Long :
1. On a Weekly 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. Fibonacci level.
2. Also a bullish candlestick pattern Bullish Hammer (marked with orange color) is formed around 0.5 Fibonacci level.
3. In addition to this there is a strong support zone (marked with purple color), from which the stock is taking support and moving up.