As per my setup I have taken a short position the position is also hedged with OTM option in case if there is any gapup that can mess my positions. I have observed previously that Adani group can simply make wild moves on shorter frame so a good positional trade on options monthly contracts with less capital.
Trade active:
Price is moving in our direction as per our setup with a proper retest. Let us see if it reaches more downside using FIB levels