INTRADAY TRADE IN ADANII PORTS
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Adani Ports seems to be showing a good target
For education purpose only ,take position post referring to your advisor/self analysis
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Looking at the Evening star pattern created today on the candle, looks like the stock might fall down tomorrow.
I am still studying about the support and the resistance lines for targets and stoploss, but below are my predictions. Please let me know if I'm wrong.
Target - 262.5
StopLoss - 307.3
Lets hope for the best.
ADANIPORTS going down at least to 302 then again wait for it to cross the support zone and then only take a short position and wait it to come down to trendline
william% is oversold
RSI is coming down
VORTEX is crossing for bearish signal
Long @ 270 with target at 279 and stoploss at 265
Bulish engulfing pattern on may 6 should continue as volumes are above average after okayish earnings results given the corono situation
MACD also looking like its gonna converge and enter buy zone
What do you guys think?
1. If breakout of ascending triangle in NSE:ADANIPORTS then upside possible:
Upside Fibbo Level 0.618=295, 0.786=316 (The gap at this level will act as resistance)
2. If breakdown then 0.382=254, 0.5=241
Adani Ports Long position can be made if it breaks the resistance of 280 and survive over it.
SL and Targets mention.
Disclamer: This is my personal opinion, please take any investing and trading decisions after your research.