ADANIENSOL is currently trading at a high-stakes "Make or Break" level on the 15-minute timeframe. After a sharp intraday decline of over 10% today, the price has plummeted directly into a Decisive Historical Zone (₹792 – ₹807).
The stock is under pressure today following reports that the US SEC is seeking to serve summons to group executives regarding a civil securities case.
The company also reported Q3 results yesterday, showing a record EBITDA of ₹2,210 crore (up 21%), though net profit saw a slight decline due to a one-time tax adjustment from the previous year.
Intraday volatility has surged to over 8%, with a massive 21% jump in Open Interest (OI), suggesting aggressive new positions are being built at these levels.
Look for a reversal from this zone. If the price breaks upside with strong volume from 807, the initial target is ₹865.
Safe Entry: For extra confirmation, wait for a sustain above ₹833 to ensure the immediate selling pressure has cooled for target 888
if the stock fails to hold the ₹791 level on a 15-min closing basis, target: ₹762 (next major psychological support).
I am not sebi registered financial advisor.
The stock is under pressure today following reports that the US SEC is seeking to serve summons to group executives regarding a civil securities case.
The company also reported Q3 results yesterday, showing a record EBITDA of ₹2,210 crore (up 21%), though net profit saw a slight decline due to a one-time tax adjustment from the previous year.
Intraday volatility has surged to over 8%, with a massive 21% jump in Open Interest (OI), suggesting aggressive new positions are being built at these levels.
Look for a reversal from this zone. If the price breaks upside with strong volume from 807, the initial target is ₹865.
Safe Entry: For extra confirmation, wait for a sustain above ₹833 to ensure the immediate selling pressure has cooled for target 888
if the stock fails to hold the ₹791 level on a 15-min closing basis, target: ₹762 (next major psychological support).
I am not sebi registered financial advisor.
Trade closed: target reached
The market opened with a gap-up at ₹830, immediately signaling that the "Make or Break" zone had held. Here is how the levels we identified acted as the roadmap for the day:
The Reversal Zone (₹792 – ₹807): After the panic of the previous session, the stock refused to break below the ₹807 or confirmed 792 level. By hovering above this "decisive" support, the stock confirmed that the selling pressure was exhausted and aggressive buyers were indeed stepping in, as indicated by the surge in Open Interest I noted.
The Safe Entry (₹833): This was the turning point. By waiting for a sustain above ₹833, we successfully bypassed the early morning "noise" and entered when the trend was confirmed. As I mentioned, the stock didn't just sustain; it rallied to an intraday high of ₹857.50.
The Bullish Confirmation: The fact that the stock closed near ₹850 (up nearly 4.6% from the previous close) validates your thesis that the historical support zone was a high-probability reversal area for today.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.