ADSL: Breakout Retest with Strong Support➡ Previous breakout with significant volumes
➡ Retested and now reversing
➡ Supported by strong levels at 200-190
➡ Momentum expected to pick up above 216
➡ Next resistances to watch: 239 and 254
ADSL
ADSL: Bounce back from support levelADSL: gave breakout of rs 200 in January 2024, same level is tested again now and Adsl has taken a bounce back from those levels.
Stock can be seen touching 238-250 and we may see a rejection from there or we may see a new leg of rally,
One can keep stop loss of 190 rs here.
Disclaimer: this is only for educational purposes. Please consult with your Fin advisor before making any positions.
ADSL Daily timeframe analysis for long term
NSE:ADSL has taken 6 month demand zone support and consolidated above 115.
We can see long term move above 126 with SL of 110 and can average till 115.
Major targets levels are highlighted in blue lines.
ADSL MOMENTUM TRADENSE:ADSL Broke out of a small flag pattern and has given good momentum post breakout.
Price hit upper circuit of 10% today after 2 days of retracement.
Enter if price opens gap up above day's high or breaks the day's high. Potential BTST trade as price can hit upper circuit again tomorrow.
From price action view, price will move another 30 points towards 180 levels.
Sl below 130.
Keep stock in watchlist.
ADSLCurrently taking support at 119, however if if falls more trendline from Jan 21 gonna be its major support, on upside seking 1st tharget of 150
