Paytm: 350% Recovery Rally! | Testing Key Fib Level

BUY Setup 📱
Entry: ₹1,320-1,330 (Current Level)
Target 1: ₹1,400-1,420 (38.2% Fib)
Target 2: ₹1,500-1,550 (50% Fib)
Target 3: ₹1,650-1,700+ (Extended)
Stop Loss: ₹1,250
Technical Rationale:

MAJOR RECOVERY in progress from all-time lows around 290
Strong +1.34% gain today with exceptional volume (15.19M)
Testing critical 61.8% Fibonacci retracement level at 1,314 (marked "21d 23h")
Massive recovery rally from 290 to 1,320 = 350%+ move
Monthly chart showing strong uptrend with higher lows
RSI trending strongly upward around 60-65 zone
Breaking above multiple Fibonacci levels - bullish momentum
Volume consistently strong during recovery phase
Fintech sector regaining investor confidence
Clear support established at 1,200-1,250 zone
Next major resistance at 1,592 (78.6% Fib level)

Risk-Reward: Excellent 1:5+ ratio for extended targets
Pattern: Major recovery from bottom + Fibonacci retracement breakout on Monthly chart - extremely bullish long-term setup
Strategy: Long-term positional/investment approach

Book 20% at T1 (1,410), 20% at T2 (1,525), hold 60% for extended targets above 1,650+
Trail SL to 1,280 after crossing 1,400
This is a multi-month to year-long setup

Key Levels (Fibonacci):

Current Battle: 61.8% Fib at 1,314 (being tested now)
Next Resistance: 78.6% Fib at 1,592
Extended Targets: 1,946 (100% retracement to ATH from crash low)
Major Support: 1,118 (50% Fib), 1,000 (psychological)

Timeframe: Monthly chart - this is a long-term investment setup, not a quick trade
Historical Context:

Crashed from 1,950 to 290 (85% fall)
Now recovered 350%+ from bottom
Testing critical Fib level that often acts as last resistance before continuation

Volume: 15.19M - extremely strong for monthly timeframe, confirming institutional buying

For educational purposes only. Not SEBI registered.