[Premium] Trade Of The Week

JC Parets
April 26, 2022

The market is messy and continues to remain so. There are only a select few names that are displaying the strength with consistency. In a messy market, that's the best area to focus on.

Read on to know more.

The Adani Group has been generating a whole lot of wealth for market participants and the trend seems to be continuing!

Adani Ports is our choice for the Trade of the Week post this time around.

The price broke out above its resistance zone of 855 which was also 261.8% Fibonacci retracement level. With this move, the price is now trading at new all-time highs and has also moved out of a one-year base.

Since March last year, the price has struggled to absorb all the overhead supply at 855. Looks like that's done now.

We are bullish above the risk management level of 855 with a target close to 1,260.

With the current market setup in mind, it is crucial to follow the risk management levels.

Thanks for reading and please let us know if you have any questions.

And if you're a Premium Member, be sure to check out our other weekly post, "Three Charts For The Week Ahead."

Allstarcharts Team

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