NSE:ADANIPOWER   ADANI POWER LTD
89 EMA Band is plotted using the high and low of the 89 EMA. It is also called as Magic Band. Price above the band would be considered an uptrend and vice versa. Most of the times it would act as Resistance or support. It can be used as a reference but not for decision making. If you find price reverse from the band, correlate with other indicators to identify the targets.
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.