Adani Wilmar Ltd. is an interesting chart with following
1. RSI on daily and weekly above 60 2. Price Consolidating between 285- 390 for almost last 8-9 months 3. Price trading above 14, 50, 64, 100, Day SMA and Above 20,50 Week SMA 4. Cluster of Averages support at 340-342-346-350 zones 5. Super Trend turned bullish on weekly chart 6. Cyper pattern under formation on Weekly chart. 7. Price gain with huge Eiffel Tower like Volume Bars.
Can be a good risk reward with buy on dips and dips near cluster of support and / or above 400 levels once price breaks out of consolidation channel and retests the same as per one's own risk reward setup
Lets See How it Evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
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