Adani Enterprises: ASCENDING TRIANGLE Long

ADANI ENTERPRISESNSE

Description

⋅ Jul 9, 2021 7:25 AM

Analysis:

1) Ascending triangle pattern has been formed.
2) The support and resistance lines have converged and the pattern is on the verge of breakout.

The stock looks bullish and upward move is expected once it breaches the resistance line on closing basis for the given time frame.

Disclaimer: These analysis are only for educational purposes. Plan your trade wisely.

Comments

Shadab_07

⋅ Jul 9, 2021 7:58 PM

Downtrend and rising wedge combo usually denotes a bearish trend.

Alpha_TraderX

⋅ Jul 10, 2021 1:13 PM

@Shadab_07, Thank you for sharing this information. However, I feel the trend is still bullish in larger time horizon of this stock and also I am bullish on overall market.