Go Long above 238.1 for Targets of 251.6 and 265.1 with SL 224.6
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 0.618 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.618 Fibonacci level.
3. The stock may go till Target 2 and face resistance from Trendline (marked with red color)
I have bought this share in options 260 ce..will it goes up side?
Nimish_Ghagare
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@nallujoy, The stock made bearish pole & flag pattern and today it gave breakdown. Its next support is 190. It doesn't look that stock will go up. Also never buy OTM options.