Adani enterprises has moved out of narrow range.
( Channel by black lines & Blue shadow)
Earlier attempt to move out of narrow range failed, making a rejection high at 1629 levels ( dotted line ).
Now the stock has crossed the rejection high at 1629.
On daily charts check image below
Resistance at all time is at 1713....
Nestle moving in narrow range. forming Inside bars.
The dotted line is life high of nestle in April 20. Since then nestle didn't gave a proper sustainable close above that high.
Tried once to close above it but was easily rejected. Now that high is coinciding with the upper rang of the narrow range marked.
This major hurdle zone can be taken out with a sharp...
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Since December stock is moving in a tight range of 540 to 610 , Lows are shifting higher.
Same Resistance around 600 610 is approached with higher lows.
Good accumulation between 410 to 610 as suggested by huge volumes.
All these things show stock is ready for a breakout soon
LOOK OUT FOR A BREAKOUT IN SUNPHARMA AS WELL AS DR REDDY AS THEY ARE NR7 CANDIDATE. THEY HAVE BEEN CONSOLIDATING FOR THE PAST 3 DAYS.
Beware : Please keep in mind and stay away from False Breakout Traps.
Also this is not any recommendation, it is only for educational purpose.
Trade at your own risk.
Have a Nice day!!