Adani Power: Is it on the verge of big breakout....???
Updated
Adani Power
CMP 34.25
The story of Adani Power is no different from Rpower... trading near all time lows... all while Nifty index is at all time highs
However, there are some positive signs on the chart that draws attention...
- we observe higher bottom higher tops on daily charts
- meaningful crossover of 20 day EMA above 50 day EMA
- recovery seen from retest of 50 day EMA after crossover
- a close above its final hurdle zone 36.5-37.2 level and the stock could be rushing towards 50 levels
Support at 31.80 / 29 odd levels
Definitely has to be a stock to watch out for in coming days...!!!
Take care & happy trading...!!!
CMP 34.25
The story of Adani Power is no different from Rpower... trading near all time lows... all while Nifty index is at all time highs
However, there are some positive signs on the chart that draws attention...
- we observe higher bottom higher tops on daily charts
- meaningful crossover of 20 day EMA above 50 day EMA
- recovery seen from retest of 50 day EMA after crossover
- a close above its final hurdle zone 36.5-37.2 level and the stock could be rushing towards 50 levels
Support at 31.80 / 29 odd levels
Definitely has to be a stock to watch out for in coming days...!!!
Take care & happy trading...!!!
Note
Looking at Adani Power on a longer time horizon on weekly chartsNote
As per Fibonacci Retracement Has the potential for 98 / 116 in 2-3 years Take care & happy investing...!!!
Trade active
Adani Power at supportNote
cmp 33.80Trade active
From 33.80 to 35That's a nice 3.5 % movement for the day...
Trade active
After respecting 36.5- 37.20 zone once, Adani Power has finally Crossed the resistance zone today....Next target 50 odd levels in 2018...!!!
Going forward, it needs to Sustain above 36.50
Take care & happy investing...!!!
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