Adani port just near a resistance zone and has formed a bearish candle on the weekly time frame.
The main thing to watch out for a nice breakout or break down is mainly the time a stock has consolidated in a range.
It has been in the consolidation zone from March 2021.
If the market gives a break out of higher time frame, then huge target can be achieved in the long run.
Adani port has been in the range for 15 months.
The stock has tested the monthly 20 ema and given a nice push upto the resistance zone of 885-900.
Higher time frame gives a clarity as it shuts the distraction of the smaller time frame.
August month is about to end. Watch out for a break out on the monthly chart for a buy or if there is a negative candle on the weekly time frame go for a short sell.
Support :- 780, 671
Resistance :- 902 (The only resistance for now)
If the stock moves up the higher target can be predicted by Fibonnaci extension tool.
Wait for a proper signal and a price action before entering the stock.
A nice swing and positional trades can be initiated.
The main thing to watch out for a nice breakout or break down is mainly the time a stock has consolidated in a range.
It has been in the consolidation zone from March 2021.
If the market gives a break out of higher time frame, then huge target can be achieved in the long run.
Adani port has been in the range for 15 months.
The stock has tested the monthly 20 ema and given a nice push upto the resistance zone of 885-900.
Higher time frame gives a clarity as it shuts the distraction of the smaller time frame.
August month is about to end. Watch out for a break out on the monthly chart for a buy or if there is a negative candle on the weekly time frame go for a short sell.
Support :- 780, 671
Resistance :- 902 (The only resistance for now)
If the stock moves up the higher target can be predicted by Fibonnaci extension tool.
Wait for a proper signal and a price action before entering the stock.
A nice swing and positional trades can be initiated.
