1.Adani enterprise looks like a breakdown because in the 1 hr chart..u can see a RSI divergence.
2. Also it just popped below the moving avg.
3.So either breakdown or breakout , will test those structures marked in blue rectangle boxes
It is observed that Adani Ent is moving in a channel. Wait for breakout of either the upper or lower trendline to initiate longs or shorts .
Disclaimer: I am a novice at charting and this chart is purely for educational purpose. Views and opinions are welcome