ADANIPORTS Long (14 Oct)
stock is at resistance zone
Taking support at 100 day EMA
Target- 823, 880
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Charts and views are only for educational purpose.
JUST A VIEW
When a security's price has been falling over time, a wedge pattern can occur just as the trend makes its final downward move. The trend lines drawn above the highs and below the lows on the price chart pattern can converge as the price slide loses momentum and buyers step in to slow the rate of decline. Before the lines converge, price...
Short ADANIPORT 762-765
With SL 777
TARGET 1= 735
TARGET 2 = 720
Note : Trading in any financial market is very risky. I post ideas for educational purpose only. It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.
ADAN I PORTS HEAD AND SHOULDER PATTER A GOOD OPPORTUNITY IS MADE AND FOLLOW THE PRICE ACTION ON THIS PATTERN TAKE TRADE ON VOLUME AND BREAKOUT CANDELSTICK
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Given a breakout of triangle patter and given one more confirmation by breaking the nearest resistance, as it confirms to go upward in direction till the another resistance, its a swing trade on 4hr timeframe, will be giving 10% return easily.
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
Adani ports' price has corrected a long way and now it is near the breakout zone. If the price sustains above the 762 level then it can go near the supply zone.
There are 2 scenarios here,
1. Go long if the price breaks out at the 762 level.
2. Go long near the demand zone, if the price gets rejected from the 762 level.
This demand zone must give good support...