Adani Ports at Strong Support Cluster. Buy the Dip
Look for Buying/ Long Opportunities because:
- Price has reverted back to 20 day SMA, see the Bollinger Band, so now No point shorting for any mean reversion
- Price above 2 Key Anchored VWAP levels from Prior Swing Low base and Breakout candle (the sky blue line and orange line)
- Price is also above the Falling Trendline from 2019 Oct high, if you see the Weekly charts then this is the Neckline of an Inverted Head & Shoulders pattern
- RSI on both daily and weekly charts is approx 55, bullish zone
- Price has reverted back to 20 day SMA, see the Bollinger Band, so now No point shorting for any mean reversion
- Price above 2 Key Anchored VWAP levels from Prior Swing Low base and Breakout candle (the sky blue line and orange line)
- Price is also above the Falling Trendline from 2019 Oct high, if you see the Weekly charts then this is the Neckline of an Inverted Head & Shoulders pattern
- RSI on both daily and weekly charts is approx 55, bullish zone
Note
Additionally:- ADX on daily is above 25 too
- Hence, Price is EXTREMELY BULLISH!!! Do not even Think about Shorting this Stock as long as it does not close below 340. Buy every Dip, this can be a Massive Breakout!
Trade active
Trade closed: stop reached
Siddharth Bhansali
✔️Twitter Handle @T_Harth
✔️Twitter Handle @T_Harth
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Siddharth Bhansali
✔️Twitter Handle @T_Harth
✔️Twitter Handle @T_Harth
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.