Adani Total Gas Ltd. - Up-Flag on DAILY chart

4 thg 5, 2021

ATGL was in a consolidation since 6th April 2021. The consolidation was preceded by an up-rally. The price gave the upward breakout to the consolidation on 3rd May 2021 and closed at Rs. 1237.20 with a volume support. I anticipate the price target of Rs.1,700 and suggest the stop loss at Rs.1,184 to be followed for the first daily candles starting from 4th May 2021. Thereafter, the profit booking/ exit decision should be based on achieving the price target or downward cross over of 26 EMA by 5 EMA whichever is earlier.
NOTE: This idea is an attempt to predict the future price movements. Investment decision based on this idea, if any, shall be solely at the risk of the investor.