Adani Port Analysis. #AdaniPort #Adani
📈 Adani Port 📉
Adani Port, Since June 2021 forming a textbook pattern of Triangle as you can see in chart beautifully following lower highs and higher lows, And Day by day range was getting narrower.
Today what I found is that it has closed below lower support of triangle on closing basis. Yes Not a good sign keeping in mind that markets are in jittery mode right now.
My Take : Wait for one more close below todays close if it does then perfect candidate for shorting until it does not break upper Trendline zone. Targets for shoring would be around 600 levels with upper trend line zone as Stoploss.
Disclaimer : Only For Education Purpose. Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
Adani Port, Since June 2021 forming a textbook pattern of Triangle as you can see in chart beautifully following lower highs and higher lows, And Day by day range was getting narrower.
Today what I found is that it has closed below lower support of triangle on closing basis. Yes Not a good sign keeping in mind that markets are in jittery mode right now.
My Take : Wait for one more close below todays close if it does then perfect candidate for shorting until it does not break upper Trendline zone. Targets for shoring would be around 600 levels with upper trend line zone as Stoploss.
Disclaimer : Only For Education Purpose. Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
