Adani Ports and Special Economic Zone ltd on a daily
chart stock price is making higher high pattern, also its trading above 20 DMA,
indicate stock is well placed above the support level. On a daily chart stock price
at Rs. 285.20 has given the breakout of upper level of ascending triangle
pattern at Rs. 277.25, indicate stock price can rally towards Rs. 330 level
most likely. Momentum oscillator MACD has given the positive crossover, which
add more bullishness for the stock price.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate at Rs.285 for the target of Rs. 330 levels, with Rs 266 stop
loss on closing basis.
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