ADANI TRANSMISSION CHART
Adani
Transmissions traded in a positive trajectory on its weekly price chart after
making a sustain correction in the last six months in a range of Rs 235-120
levels
· It recently witnessed a strong momentum
favoring the bullish trajectory as it managed to break out from the crucial
moving average level of Rs 151-143, and made a gain of about 10 percent on
weekly basis begged by volume buildup.
· On the weekly price chart, the scrip
registered a strong bullish candlestick pattern indicating a sustained rally
after decisively closing above crucial levels.
· Further, the weekly RSI at 50 levels which is
above the previous level hints at a favorable divergence coupled with the
positive signal on MACD trading above Signal-Line.
· The Adani Transmissions is currently holding resistance
level at Rs 194 and support level at Rs 141.
We
have a buy recommendation for Adani Transmissions which is currently trading at
Rs 160.85 and target 172 -189 stop loss below 142.50.
Stock
resistance (daily)
·
Resistance 1
- 169
·
Resistance
2 -
176
·
Resistance
3 -
301
Stock Support (daily)
·
Support 1 - 151
·
Support 2 -
143
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