Adani Port after a decent uptrend from 250 to 380 levels has made a Rising Wedge pattern at the Top with RSI (14) negative diversion.
Sell Below 370 levels for possible for Target of 335
Learning – Rising Wedge Pattern & Negative Diversion
Rising wedge is a bearish pattern that begins wide at the bottom and contracts as the prices move high and the trading range narrows. The slope of the rising wedge is up but
The chart is below for your reference.
Example of a bearish Wedge Breakout
Disclaimer
I’m not a SEBI Registered Investment Advisor. Above Views are only for Educational Purpose. Equity, Commodity & Currency Trading has large potential rewards, but also Large Potential Risk. You must be aware of the risk and willing to accept them in order to invest in the markets. Don’t trade with the money you can’t afford to lose. This page is neither a solicitation nor an offer to acquire/sell any script. Please consult your financial advisor to take appropriate investments as per your risk profile. The past performance of any investments is not an indication for future returns.
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