Sagar
One trader I know asked about ADF Foods (India), $ADFFOODS, in a traders' WhatsApp forum today. This is how I analyzed the stock. My conclusion? There is no buy setup. Instead, if one had a long position, one might book profit if the nearby Memory trendline support is broken in the daily chart.

Technical analysis of ADF foods: 1) Weekly is near Watermark pivot resistance - creating a double top. (2) Weekly candles are bearish for 2 weeks. (3) Relative Performance shows it is underperforming (while at the double top). (4) If the support Memory trendline is broken, one may consider booking profit in an existing long position.

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Fundamental snapshot of ADF foods: (1) Down by -1.56% as of now. (2) Today, only 7 peer stocks are up, 27 are down - showing the industry is weak as a whole. (3) and (4) Valuation is medium to overvalued.

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Market: This is the India market as of 3:22 PM IST. This heat-map does not reflect a bullish market today.

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Sectors in real-time: All sectors are down today, over previous 2-day and previous 5-day periods. There is probably no reason to put hard-earned money into the market when sectors are so weak.

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