Published on: December 6, 2023
For the past week, Adani stocks have been on an impressive rally, basking in the glow of a series of favorable news developments for the Adani Group. The positive momentum seems to be building up, creating a buzz in the financial landscape.
Above attached is a Weighted Average Index chart of Adani Group comprising of Adani owned companies, which is showing signs of a turnaround after a sharp nosedive in January 2023 on Hindenburg’s allegations.
The Adani Group index has even started trading above the Anchor Points plotted on the 0.25% x 3 PnF chart.
Is Adani gearing up for a celebration?
Adani stocks are riding high on some exciting news! Turns out, the US government isn’t buying into Hidenburg’s fuss about Adani’s borrowing—it’s all water under the bridge for them. They even did their own deep dive before handing out a massive $553 million for a swanky container terminal project in Sri Lanka.
Guess what happened next? Boom! All Adani group stocks went through the roof, hitting some serious new highs. It’s like they’re on a winning streak!
What next?
All stocks owned by Adani have rallied very quickly showing great Momentum, one can initiate trades on Follow Through indications.
One of our experts, Brijesh, highlighted the technical trend emerging on Adani Stocks on our Forum. Click here to read it.
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