[Nitin Bhatia]

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Adani Ports trading strategy suggests that the stock has formed an inverted flag continuation pattern. It suggests that the stock will resume its downtrend once Adani Ports comes out of the inverted flag continuation pattern. Some of the technical analysis learners mention that the Adani ports is forming a triple bottom pattern. However, it is not correct as the stock was in a downtrend for just over a month.

In the long term, the stock is forming a bullish pattern. As an investor or trader, It is advisable to keep in mind the key support and resistance levels of the Adani Ports.

On the charts, The price volume analysis suggests a bullish trend. However, on a closed look of data points, you can observe that the heavy delivery based buying towards the end of November is neutralized during the consolidation period. The big player has squared off the long positions. The current up move is speculative.

The Fibonacci Retracement analysis is bullish. The Moving Average analysis suggests a buy but the slope of 200 period EMA is downwards therefore, an investor should be cautious.

The option chain analysis is bearish and you may observe a call writing i.e. speculators expect the stock price to go down. The Adani Ports does not have any correlation with the Nifty movement.

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