Hi Traders / Investors ,
This is a Swing / Positional Trade.
I can see a bullish momentum can happen in Greenply Industries because of :-
1) Rounding bottom pattern got breakout and came for a retest at prior resistance level now acting as a support.
2) As per Fibonacci , it is taking support at 0.382 level which is healthy retracement and strong support zone.
3) RSI indicator is also taking support at 60 levels.
Giving a Risk to Reward of 1:3 , Entry - 228-230 levels
Stoploss - 205 levels
Target - 298 levels.
This is just an analysis so please don't take any decision solely based on this .
Please give thumbs up if liked this , as it requires deep research.
This is a Swing / Positional Trade.
I can see a bullish momentum can happen in Greenply Industries because of :-
1) Rounding bottom pattern got breakout and came for a retest at prior resistance level now acting as a support.
2) As per Fibonacci , it is taking support at 0.382 level which is healthy retracement and strong support zone.
3) RSI indicator is also taking support at 60 levels.
Giving a Risk to Reward of 1:3 , Entry - 228-230 levels
Stoploss - 205 levels
Target - 298 levels.
This is just an analysis so please don't take any decision solely based on this .
Please give thumbs up if liked this , as it requires deep research.