In this article, I will share why Adani Enterprises share price is rising.
Despite Hindenburg’s research report, after a massive fall why Adani enterprises are rising today.
Adani makes a low of 1000 levels on 3rd Feb, after that, we have seen a recovery from the 1000 levels and on the same day it makes a high of 1679.
If I talk about the RSI is standing oversold on 3rd Feb near 20 levels.
Now the main question is why Adani is rising despite negative news.
Why Adani Enterprises share price is rising?
After a fall due to Hidenburg’s research report, we have seen so much negativity on a news channel and also among the shareholders. It is rising due to the RSI standing at oversold levels. As per the technicals of Adani Enterprises we are bouncing from previous support levels of 1500/1600.
Today on 7th Feb, Adani Enterprises locks in the upper circuit of 20% despite opening flat in the morning.
Adani Enterprises Technical Chart
Adani Enterprises share price target tomorrow is around 2085/2100 levels which can act as resistance and we can see some selling from that levels.
Is Adani enterprises a good stock buy?
yes, you can buy it if holds the levels of 2000 with a stop loss of 1600.
In the longer term, you can’t see these levels again. Invest that amount which you can lose.