Adani ports- Chart shared for learning purpose onlyADANI PORTS- Chart shared for learning purpose. Despite hinderburg or whatever negative news, the stock went according to the technicals. Initially it was trading within a range of 260 point as can been seen in the yellow box and after that the box was broken down and went to the desired target of -260 points from the box bottom. The same can bee seen in the red box. within few weeks it came back to its original range. So whatever the news is, most of the time it performs according to the technicals only. very rarely due to panic selling, stocks will go against the technicals.
Panicsell
Panic market crash may be seen ahead of Ayodhya verdictNifty developed an 'evening star' pattern in daily chart, which is a very strong bearish signal. Ahead of Ayodhya verdict, market is selling off from the strong selling zone near all time high. There is a strong possibility of an extreme volatile market in the coming days due to the high sensitivity of the issue.
If price breaks the blue trendline, I am anticipating a downward rally till price reaches the strong buy zone as marked in the chart.
Also, a clear bearish divergence in MACD histogram has developed in daily chart of Nifty