Adani Ports has strong resistance zone at 1050 - 1080 and formed a bearish pattern at the top. Sell trade can be initiated in the resistance zone for the marked targets on the chart until 1120 is intact on the upside.
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InvestPro India
Adani Ports has closed above its weekly resistance zone.
The stock has rallied form 807 to 870.
On daily time frame, a good bullish candle is formed and on volume analysis high volumes are there.
Support :- 858-865
Resistance :- 900
Don't just jump into buying. Wait for the retest or break out of 900 level.
If the stock crosses the levels of 900, further...
The stock on 4-hour time frame has closed just below the crucial resistance of 745-50.
If the stock closes above the 745 and sustains on a hourly time frame, entry can be made.
20 and 200 moving averages are converging. Finally, 20 ema has crossed over the 200ema.
Wait for the price action near the resistance level.
Support and resistance levels are marked...
📈 Adani Port 📉
Adani Port, Since June 2021 forming a textbook pattern of Triangle as you can see in chart beautifully following lower highs and higher lows, And Day by day range was getting narrower.
Today what I found is that it has closed below lower support of triangle on closing basis. Yes Not a good sign keeping in mind that markets are in jittery mode...
NSE:ADANIPORTS
I am posting this chart on request from one of the follower on Twitter.
Observations:
1) On daily time frame, we can see it has been trading below 200DMA and facing resistane from it.
Which is a bearish sign.
It has to break and sustain above 200DMA to start bullish journey.
200DMA is placed at 711.73 level.
Please refer below chart : 1...
All Adani Group shares has been crashing after the news. ADAPORTS will fall till 543- 540. the it will give a bounce. Think of buying at the PRZ level only.
![ADANIPORTS: Simple Trade Setup | ADANIPORT | 03-11-2021 [ INTRADAY]](https://s3.tradingview.com/f/FyC2T0z5_mid.png "Simple Trade Setup | ADANIPORT | 03-11-2021 [ INTRADAY]")
