ADANIPORTS
Adani Port Rocket FallTREND ANALYSIS
Follow Chart Instruction.
Wait for Proper Entry.
Do not be Hurry for entry.
Do not book/Exit Early , wait for atleast 1st Target.
Buy/Invest with Best Risk Reward.
Educational Chart Only.
You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX.
Adaniports in a down trend and Target 407 - 396 - 374Adaniports in a down trend and Target 407 - 396 - 374
Please check the chart and analyze the movement.
It is a zigzag correction. And a previous trend is a downtrend.
And we already was expecting to go down and it shown one good bearish candlestick. Check the chart.
From this, we can take our positions.
T1 - 407
T2 - 396
T3 - 374 - T3 has to be analyzed before taking position.
Adani Port : H&S continuation patternH&S can be traded as continuation pattern. Schabacker, Edwards and Magee have written about this is their books. Adani Port has formed an inverted H&S pattern. Breakout and right shoulder have seen volume activity but Head is not confirming volume pressure on upside move. It has come to touch neck line and reversal from neckline will be confirmed only on weekly close above 432. Target of the pattern is 520 with stop loss below 380 on weekly closing basis. RSI is also showing inverse H&S with neckline tilting upward.