Adani Enterprises Has Formed A "Parallel Channel" Pattern By Taking Support At (270) And Resistance At (305). It Has Also Shown A Intense Pullback When It Retested Its Support.
Support - 305
Resistance - 270
Checkpoint/STT - 305 ("Checkpoint" Are Those Areas, Where Trend Reversal Is Possible.
This Analysis Is Done Only For Educational & Intelligence Purpose,...
After Breakout Reliance Consolidated A Lot, If It Has To Bounce Back, This The Region Where It Has To. Reliance Follow A Trend - After Breakout It Re-tests It Support (Resistance Before Breakout).
If It Bounces Back
Buy Zone -2160-2200
This Analysis Is Done Only For Educational & Intelligence Purpose, Invest Or Trade At your Own Risk & Will.
Spot Gold Currently priced between $1874-75, perfect placement for retractment towards first till $1,887 and then further move towards $1,905 and further. Keep your stop just below $1,860/- any move below that will take it further down towards $1,835 and then $1,811.
WE CAN SEE AN DESCENDING TRIANGLE PATTERN ON DAILY TIMEFRAME.
IT SUGGEST THAT THE STOCK MIGHT MOVE DOWNWARDS.
SO THERE CAN BE AN SHORTING OPPORTUNITY SOON.
NOTE - THIS IS JUST FOR EDUCATIONAL PURPOSE.
IF ANY SUGGESTIONS PLEASE LET ME KNOW IN THE COMMENT BOX.