As per the technical analysis , we have witnessed a "Double Bottom" pattern formation in Adani Ports Ltd. on a daily time frame with the neckline just breached on . it is expected to face a rejection in coming week as it is approaching it's 200 day and 50 day moving average. Also the volume leves were decent enough on. There could be 2 trading opportunities in this trade
1. One may enter at current levels as we have just breached the neckline with decent volume levels. (Liitle risky)
2. If it goes above the neckline in the coming week, one may wait for a retest of the neckline level which will provide some extra confirmation. (most preferrable)
The above analysis is just for educational purposes only. Investors / Traders are required to do their research before entering into any position.
1. One may enter at current levels as we have just breached the neckline with decent volume levels. (Liitle risky)
2. If it goes above the neckline in the coming week, one may wait for a retest of the neckline level which will provide some extra confirmation. (most preferrable)
The above analysis is just for educational purposes only. Investors / Traders are required to do their research before entering into any position.