The script after heavy selling showing a dead cat bounce the red line denoting 8EMA should not cross and scrip is likely to continue its downtrend from thereon, Kindly don't look to find value in any adani scrip as of now. Either avoid or create short positions subsequently on every major moving average resistance zones
Instrument coming below 200sma after making a top and smoothly sliding down in a downtrending channel taking support at fibonacci of .786 and .618 respectively in the previous lower high formation, looking to take resistance of .5, this time before getting back into the channel first to the mid of the channel AND second to the lower end of the channel, Its a...
the pattern shows open range breakout go long when you get a long signal and vice versa, exit the position upon 6 bars from entering the position whether target acheived sl hit or not
The indicator is derived from adx and leads the adx indicator as it calculates the slope of adx and plots dark blue color bar signalling the trend is strong followed by light blue bars and grey suggest no momentum or lack of trend
