Since the last few trading session, it consolidating in range by making Higher Lows(HL) and Lower Highs(LH). In today's session, we saw higher buying volume near the descending trend line it indicates the more chances of the breakout of this symmetrical triangle pattern and this stock will continue its bullish rally towards the 373+ target.
one find reversal for short this mad bull and even one can short (write) 350CE and 350PE for whole month ( if find extreme find down fall then book PE short and hold CE short ) as pet their trading strategy and sl as per their risk appetite.
ADANI PORTS - BREAKOUT BUY - CLOSING BASIS
BUY ABOVE 365 SL 350
TARGET: 370, 374, 378, 384, 389
Posting for Educational purpose only
Closing Basis means stock need to trade above 365 between 3:20 ~ 3.30 PM
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Note: This is for educational purpose only.
Price action indicates that 21 EMA is a dynamic support. Moreover, 21 EMA above 55 EMA indicates short term uptrend. RSI is 58 which is nearing bullish trend.
Intraday / Swing Setup: Looks good above 322 with confirmation on 15mins for intraday and confirmation on 1 hour chart for swing trading. Can touch 330/335 keep tight SL 320. Expected good R:R.
Note: I am not a SEBI register and view is only for educational purpose as well as personal, always consult your financial advisor before investing or trading.