Adani Wilmar crossing the Fibonacci resistance
Adani Wilmar has been in down trend since long and since then it is moving in a channel.
In addition, based on Fibonacci levels it is crossing the first resistance level at 23.6% and will change it trend if it sustains above the levels of 414. The fourth attempt in breaking the resistance level.
If we get good volume then expecting 2-3 Target levels on the Fibonacci level of 38.2% and 50% of the next resistance levels at 414-474-557 and more if market sustains.
No recommendations, just my view based on chart pattern.
In addition, based on Fibonacci levels it is crossing the first resistance level at 23.6% and will change it trend if it sustains above the levels of 414. The fourth attempt in breaking the resistance level.
If we get good volume then expecting 2-3 Target levels on the Fibonacci level of 38.2% and 50% of the next resistance levels at 414-474-557 and more if market sustains.
No recommendations, just my view based on chart pattern.
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