AdaniPorts- Year 2017- Careful Below 245- Long Term for 100-120

L-S- Long First & Short Later

Since Aug2015 Highs of 375- Adani Ports have been moving into larger corrective structure & likely to touch 100-120 zone in the coming years where (C) wave will measure the same distance which has been travelled in Wave-(A) at lows@170 from high@375 forming a double bottom.

Since double bottom- it was again an irregular structure A-B-C which made a top@317 highs. From that top it had a fall to 245-250 zone where it took support & bounced -currently trading at 287.

Short Term Opportunity
It can push to 295-300 zone & if holds & starts falling below 290 marks & sustains -there could be a selling opportunity for targets 245-250 zone

Long Term Opportunity
Going below 245- Likely starts its down leg to the desired zone of 100-120 going into Year 2017.

Related Analysis attached below
How the zone 245-250 was always in radar of bulls- enjoy the power of McDonald meals

Trade active:

09:28 Hrs 9th Dec2016

Last Price@291

Moving in the desired direction from yesterday at 287

Trade active:

20:32 Hrs 12th Dec2016

Last Price@281

Just missed the range of 295-300

Turned from 291.30's but I mentioned going below 290 & sustaining below could be selling opportunity - today it was a gap down opening -made day's low@279. Has Adani ports also started down- ask yourself this question. May be you get an answer from your inner self.

Trade active:

22:15 Hrs 25th Dec2016

Last Price@260"s

Almost 30 points fall below 290"s- Heading for 245-250 target zone as mentioned in short term opportunity.

Trade active:

22:55 Hrs 31st Dec2016

Last Price@268

Going Below 260- It starts moving down back to next support zone 245-247