Adani total gas Ltd:- Long Move Ahead

ATGL

Earlier Adani Total Gas Limited gave 135% move within a few days and after that, it has been consolidating since 10th of December.

The pattern is a descending triangle after a long up move And A horizontal range Has been formed.

The support line of the pattern Is at 0.382 Of the Fibonacci retracement zone.

The volume is showing spikes on bullish moves in the horizontal range indicating a potential accumulation by big players.

The entry point is above 1075, With potential targets of 1155,1262 and The measured move of the previous up move is at 2200. (No surprise if it crosses 2200 in a few weeks)

Maintain the stop loss below the support range on a weekly closing basis only.

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Keep learning,
happy trading.

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Comment:

Stopped out in #ATGL

Very painful market, I will notify on re-entry if the scenario builds up.