Travelled a long distance & made recent high 360 from the last Intraday target of 278-280 - Year 2017 Begins
Short Term - Moving above 355 & sustaining above that shall look for 365 as short term target. Where it will enter the zone close to prior high of 375.
Long Term - Once confirmed & we see selling pressure close to prior high zone of 365-375- we shall look for a selling opportunity. Target projections we will come up later once it unfolds as expected. Keep in mind- sharp up move above 375 & dropping back below 375 can act as bull trap.
Port is rising. keep a watch
Post Making small high above 355. It is falling sharply at 347.50.
Only below 340 move will make ports weak in current situation otherwise moving again upside above 355-356 can take it for a new high between 365-375
Fall from 355-356 to 335 is very sharp-impulsive & scary -in coming sessions if it fails to move above 355-356 zone then likely it has formed a top is to be concluded but yes one piece at a time - need to see what it does next.
Closing Price for the day@334
Early in the fall - Hardly spent any time in 355-356 which I was watching keenly for any longs to be created, but it failed & had impulsive fall to 330 day's low & closed at 334.
Our Key Zone is 355-356 -Getting a daily candle of that size & red color could be a hint that Adani ports has put a short term top@359.
We still expect a bounce to see next course of action.
Moving Above gap zone 324-326 & holding with support is what should give some relief to Adani ports as well.
Closed after the fall from 355 to 318
What a fall from 355 to 318- What Next?
Got a jump from 318 to 335 as next
318 Turned Twice- Can 335 - Make it Turn Twice - Yes, it did -we came back to 318.00 again -Wow!- What a solid bottom
Cyclone Katrina at Ports- What Next- Moved again to 331-333 from 318 as of 2nd May2017- Amazing!!!
Picture of the day at 333 Tops
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ