Adani Ports at Strong Support Cluster. Buy the Dip
Updated
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
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