AbhishekHSinghCMT
Short

Adani Ports - 318 Turned Twice -Can 335 Make it Turn Twice

NSE:ADANIPORTS   ADANI PORT SPECIAL
741 29 31
Double Top at 335 - can it make Adani ports turn down. Going below 329 & Holding Below 330 - A possible double top could start putting pressure.

Target Zone - 315 to 318 The choppy zone below which formed double bottom & Adani ports turned upside.

What a fall from 355 to 318 - Result Got Upside to 335 & Fall from 335


Earlier Update- Long Term Picture

Trade active: 11:51 Hrs 24th Apri2017

Last Price@332

Key Resistance Zone 335-336 -has been respected so far -expecting ports to kiss 318-320 Target Zone.

Fresh Entry should always be taken close to 335-336 so that you lose less & never jump in running train.

We got opportunity twice in the zone 333-335 since it opened for trading this morning where we lose 2 points but gain is 15 -16 points downside in the tripple bottom support zone of 315-318 -giving us risk reward 8:1 which is amazing as Industry Standard is 3:1

Going below 324 - it will continue to 315-318 expected zone.

Trade active: 15:01 Hrs 24th April2017

Last Price@330.80

Struggling below 330. It went below 330 to take the stops. Above 330 it can attempt again 334-335 zone
So we will take sell in that zone.

Trade active: 10:03 Hrs 25th April2017

Last Price@328

Day High@333

Awesome -between positive index -adani went close to 333-335 zone as expected bounce from previous update & falls.
Going below trendline -It will crack more- we are riding the ports from day high.
Trade active: 10:31 Hrs 25th April2017

Last Price@328.50

Day Low@326.55

Lock your profits at current price of 328.50 & we shall sell below 326.50 later -going below 324 also will put into more pressure.
Trade active: 11:27 Hrs 25th April2017

Last Price@330.50

Look the bounce post profit booking

Trade active: 12:31 Hrs 25th April2017

Last Price@330

Double Mini Top in 331-332 recent looks for topping currently- going below 329 -it will continue its fall.

Trade active: 15:29 Hrs 25th Apri2017

Last Price@331

There is a triangle within a triangle - e wave is appearing to form triangle itself.

Safe Traders - Sell below 328

Risky Traders - Sell at every bounce - Crtical Zone 335-336 - If that zone taken out -it will go up else we are still open for 318-320 target zone next (holding 335-336 Zone on upside)
Trade active: 11:02 Hrs 26th April2017

Last Price 331

Turned again from day high@333.90 - We were suppose to sell again between 333-335.
We are in the trade again.
Likely breakdown is expected once it goes below 328 as well.
Trade active: 12:15 Hrs 26th April2017

Last Price@331

Recent Low@328.60

Now, you understand key level328 -just turned -risky traders could have booked & traded this up move as well but you need to be superfast to take such trades.

Testing Patience against 335-336
Likely e-wave has taken itself a form of triangle - I am looking such move for the 1st time & rare occurrence- If it falls -havoc will be created on Adani ports. Kidding.
Hold yourself. Going below 328 next- we should travel down.

Trade active: 12:55 Hrs 26th April2017

Last Price@329

Turned exactly from 328 - Patience - Break of 328 will take it down.

Trade closed: target reached: 14:22 Hrs 26th April2017

Last Price@320

Tripple Bottom Target Achieved at 318.30 - Fall from 333 - Amazing

Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Good analysts !

Any thoughts on Avanti Feeds?
Reply
understood the power of levels.
Target for today?
Reply
@DINESH1961, Trading at 322 -14:00 Hrs -27th April2017. Those who took sell at tops of 333. I said - don't lose the patience- we will get it.
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Wow!!! what a great fall
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@ashokakbari, Awesome!!!
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Sir can we short Adani port at this moment
Reply
@drbharath1978, You can't because risk reward is not good here after a fall from 333-335 - I have been putting about this update for so long infact yesterday also I updated to sell in 334-335 which is important resistance. Taking risk of 1-2 points is always better than 8-10 points risk in Adani. Going below 324 -yes we can have selling pressure.
Reply
drbharath1978 AbhishekHSinghCMT
@AbhishekHSinghCMT, thank u and will wait for that level
Reply
@drbharath1978, See. You got the trade again between 333-335 -just 2-3 points stop -going above that zone only it shall move up. Down 3 points -let us see if it breaks 328 as well@26th April2017
Reply
drbharath1978 AbhishekHSinghCMT
@AbhishekHSinghCMT, Ya taken Thank u Abhisekh
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