Adani enterprises was consolidating in a range of 3855-4080 , in today's session we got a breakdown of that range which gives us a downside target of 3700 , 3650 and 3600 . Can short adanient with a SL of 3890-3900
ADANI PORT -- DAILY CHART -- POSITIONAL
1. stock on daily chart seen trendline support level last closing candle
2. at trendline support combination of hammer and doji candle seen which is sign of trend reversal from current level
3. trix line shows at near oversold line also indicate possible bounce back from oversold level
4. current trendline support...
***** It's just for an educational purpose, So you must also follow your own technical analysis before taking up the trades ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
The idea is based on the Elliott Wave Theory. A potential ending diagonal suggests a reversal of the trend. In this case, we can see some more upside near to 4500 level, followed by a bearish correction/impulse.
⚡️ Bullish market structure - clear formation of Higher highs and higher lows.
⚡️ Reclaimed the flip level
⚡️ Any pullback towards the 650 zones seems like a buying opportunity until and unless the price closes below the 650 level decisively with good volume.
⚡️ The long targets are near the 770 level and 880 level.
Disclaimer : This is NOT...