Time frame used 75 Minutes. ABCD pattern as per Fib retracement price has taken rejection at 0.5% level my view is negative with target towards Point D. View fails if price crosses and closes above 3904 level.
Trade active
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Sold - AdaniEnt 3850 CE @ 143.15 Buy - AdaniEnt 3650 CE @262.15
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3rd Jan 2023 Today made low of 3791
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6th Jan made low of 3757, almost 93 points.
Trade closed: target reached
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All targets done almost 400 points down target achieved. Price action first and then News comes... Best example.
@drvina80, 3700 PE is out of the money. my sentiment is negative on AdaniEnt. If you can take risk then try buy 3850 or 3900 PE and Sell 3700PE. Lot size is 250 take SL as per your apatite. If price remains between 3800 and 3700 then profit is for sure. Try to take position near 3900 level when rejection is seen in price. Pls note I am not SEBI certified financial advisor. This is just my view pls take advice from experienced and certified financial advisor before taking trade.
VikasRanjane
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@drvina80, ignore the below call I made some mistake in CE and PE
Nice Analysis sir...What should be the next target level for this share 3400 ?? by Jan month end ??
VikasRanjane
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@Viratk, Thanks!! For safe traders one should enter short trade once Point B is broken on closing basis. Very aggressive traders can enter once B to C trendline is broken. Pls note I am not SEBI certified. This is just my view pls take advice from experienced and certified advisor before taking trade.
@HR2526, Will check it tomorrow and if any pattern seen then will definitely post it.
VikasRanjane
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@HR2526, Arvind Smartspace looks strong on Monthly TF, on weekly TF after 15 weeks consolidation it has given breakout. Can go till 379. This is just my view pls take advice from experienced and certified advisor before taking trade.