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

394 4
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
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
kya solid martey ho na aap bhi sir.good
@sandy, What do you mean by this "solid martey ho na"
sandy AbhishekHSinghCMT
@AbhishekHSinghCMT, i mean your analysis are always bang on .(solid marna means perfect punch to the opponent),
@sandy, Thanks -Hope it rallies to desired zone of 295-300
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