Adani Ports fell continuosly for 9 days and stopped at harmonics reversal zone of 311.
Made low of 309.6

The next day it made inverted hammer and today hammer .

View is to long about the high of hammer

Long above 320
SL 310
Target 330,336

Highest OI is at 350 CE and 320 PE.

expecting it to close in between this range
Once in profit of 3-4 rs can sell 335 CE to pocket premium and save the downside risk

Adaniports future buy would cost around 2.75 L but when you sell a CE it would take only another 25k-30k extra Margin.

335 CE is 5 rs at the moment and would be around 7-8 rs when adani would be trading at 322-324
when you sell it you are protected downside in case your sl hit.

Disclaimer: I am not a SEBI Registered Analyst. This is for educational purpose. Please take position after consulting your advisor.

Comment: entered at 321 and hedged 335 CE at 6.4
currently in loss overall
Comment: Join below Telegram for Trade discussion



What do you suggest next? Should I enter at this price range?
+1 Reply
LazyBullear SealTheDeal
@SealTheDeal, No the reversal didn't hold and it fell from 320. Need to wait for reversal confirmation before entering. Hold on for now
Tactful hedging...👍
+1 Reply
how to learn that pattern please suggest me any website of books
This has formed a round bottom, price action pattern. we can expect consolidation in a descending channel to form a cup and handle formation.
Which analysis is this
It's a combo deal.
very good
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