AdaniP: Something Big Might be on the Cards

Notes on the chart.

Regards.

Comment:

Big player changing hands, we should let them settle down. A 5 minute closing above 403 should be waited.

Comment:

Might be stopped out soon in this ugly price action :)

Trade closed: stop reached

Comment:

This trade didn't work.
Let's see if I get an opportunity to test the second hypothesis near 397-398.

Comment:

Bounced from support..let's see where it can take us.

Trade closed: target reached:

First target hit same day. Position closed.

Comment:

The stock has been a very good example of 'how stocks sometimes do not move as expected'. In the first try i was hit with stop, so later I wanted to buy it low as per second plan. But stock came out of the channel, hit the mentioned support level and made a bullish bar. First target was hit quite fast.
Moral: Horrizontal support-resistance levels should be given more importance than trendlines and channels.
Have fun :)