-->MARKET ANALYSIS : Bullish
-->SECTOR ANALYSIS : Broken from stage structure
-->STOCK: Broken from stage structure and cup and handle pattern with a good closing above 1600
Looking bullish for short term targets of 1800 levels and thereafter 2000+
RS uptrending and RSI 60+ adds icing on the cake
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A short term positional trade can be taken based on the recent breakout in ADANIENT scrip.
Volume consolidation is observed in DAILY charts for quite some time now and recent breakout in daily and weekly chart may continue in further trading sessions.
BUY above 1655 with Stop Loss 1589 below and first target around 1710.
A further breakout above 1715 with good...
Adani Enterprises consolidating formed a long time and formed a symmetrical triangle pattern and price coming from weekly demand area so I am expecting a good breakout in coming sessions in this stock.
JUST A VIEW
When a security's price has been falling over time, a wedge pattern can occur just as the trend makes its final downward move. The trend lines drawn above the highs and below the lows on the price chart pattern can converge as the price slide loses momentum and buyers step in to slow the rate of decline. Before the lines converge, price...
Has Stop-loss of more than 5%
Trade Carefully and with limited Quantity
If 1600 Breaks then we only have only
1700 and Previous High as Resistance
Other all Details Are been Shared on Chart
NOTE - THIS TRADE IDEA IS ONLY FOR EDUCATIONAL PURPOSE
WE ARE/WOULD NOT BE RESPONSILE FOR ANY PROFIT OR LOSS