Adani Enterprises going to fall ??

Jun 29, 2022

Technical chart study indicates multiple signals which indicates adani enterprises going to fall, let's start with Rsi divergence as seen in price made higher high whereas rsi made lower high, also rsi is at most heated place on monthly chart, 2nd indication from channel as its moving along with the high resistance area as price going up volume constantly going down on monthly, 3rd point if this is a top and if we draw fib leve., would find 0.382 fib level is at 1540, also a touch point of ema20 where it should reach at least to resolve rsi divergenge, then 0.5 level is at 1268 n Golden ratio level is at 996 also ema 50 touch point.so target downside would be 1540/1268/996 , Point to consider that monthly rsi divergence may take years to resolve. So these targets are not time bound.However one can short once gets some indication on daily, weekly for 1st target 1540.