Adanipower bull run finally ends?AdaniPower has been on a bull run from a long time, but it looks like it wants to take a break. The volume is decreasing and it is also forming a head and shoulder (Trend reversal). Wait for it to break the trend and retest to play it safe. Because it might end up playing the triangle and pump (the possibility is low for now, but to be on safer side, wait for it to break either side.
ADANIPOWER
Flag Breakout Good Risk/Reward I've observed a good Flag pattern trade, which could reward well in short term. One can buy the stock with the following details
Entry 49.50
SL 46
Target 59.80
Risk/Reward Ratio 3
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
Adani Power Buyers Pull Back It is been observed on the hourly chart that the price action shall pull buy from the strong support levels as the buyers are active at the levels. It shall move further up. We also see the divergence on the hourly chart as well.
Target: 29.50
Target 2: 30.50
Stoploss: 27.50
Adani Power - ConsolidatingThe price action on weekly chart indicates a consolidation between 26-36 price levels (10 points range) where currently the stock is trading at the lower side of range. This week closing shall decide further direction in price movement. Keep it in your watch list to gain best out of it on time.
I would also appreciate any feedback on it to bring clarity to our discussion and further trading decisions.