Adani Green Energy – Double Bottom Reversal Setup (Daily Chart)
After a prolonged correction, the stock has formed a double bottom near ₹800 zone, followed by steady recovery with improving momentum and volume participation.
🔎 Technical Observations:
Strong demand visible around ₹780–₹820
Clear higher low formation after bottom
Price reclaiming short-term moving averages
Bollinger Bands starting to expand (volatility expansion phase)
RSI moving above 55–60 → strengthening momentum
MACD bullish crossover with positive slope
🔑 Key Levels to Watch:
Immediate Resistance: ₹1,000
Major Breakout Zone: ₹1,080–₹1,100
Immediate Support: ₹910
Strong Support: ₹800
🚀 Sustained breakout above ₹1,100 can open upside towards:
₹1,200
₹1,400
₹1,600 (positional swing target zone as marked)
Structure suggests accumulation after correction. Confirmation above ₹1,080–₹1,100 is crucial for trend continuation.
⚠️ For educational purposes only. Not a buy/sell recommendation.
— AALGO BREATHS