ADANIENT had formed a symmetrical chart pattern in 1 day timeframe. And had been consolidating from couple of months. currently its is nuetral. Waiting for a clear breakout. If it's gives breakout in upward direction. Then take a long position.
first target Rs 2065
second target Rs 2368
If it's gives breakout in downward dorection. Then take a short position.
first target Rs 1552
second target Rs 1240
And stoploss is must.
Note
Adani enterprise has given a breakout in upward direction. After the consolidation from 4 months. But we are not going to take trade It might be a fake breakout because it has not given a breakout with volume . The volume is still low and the 50 moving avreage is sideways. let's see when the trend changes..
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.