BURGERKING has begun retracing after the correction
(Fibonacci retracement in weekly chart of BURGERKING, from swing low of 14th Dec 2020 to Swing high of 17th December 2020.)
It is retracing after making a dip around 0.786 region (120-130 INR) and has crossed 0.618 region (148.5 INR).
It might speed up again above 157-159 region. Maintain strict stop loss below this 0.618 region.
You may hold the trade up until 180-185 region. Risk takers can wait till 192-194 region.
Above 194 could be riskier than usual. Because when it got listed, it hit Upper circuit for straight 3 days and stopped this streak at 194. The very next day, it began falling steeply.
PS: I am not a SEBI registered advisor. Enter in trades after reaching out to your advisors or at your own risk.
It is retracing after making a dip around 0.786 region (120-130 INR) and has crossed 0.618 region (148.5 INR).
It might speed up again above 157-159 region. Maintain strict stop loss below this 0.618 region.
You may hold the trade up until 180-185 region. Risk takers can wait till 192-194 region.
Above 194 could be riskier than usual. Because when it got listed, it hit Upper circuit for straight 3 days and stopped this streak at 194. The very next day, it began falling steeply.
PS: I am not a SEBI registered advisor. Enter in trades after reaching out to your advisors or at your own risk.
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