Adani power may move upto target(shown in graph). Wedge pattern breakout done already. Descending channel breakout may happen upcoming days. Both pattern shows same target only.
AdaniPower is retesting the two year neckline, after an year long double top move.Probably going for a double bottom, if it can hold the neck.Awaiting a breakdown/reversal depending on the color of the nifty.
It is been observed on the hourly chart that the price action is trending up by forming higher highs and higher lows. Now, it shall further move up from current levels if the trend sustains.
Target 1: 34.50
Target 2: 35.50
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 2: 30.50
According to MACD analysis, a bearish crossover just happened and it's a negative signal. But historically support is found in the range of 23.5 to 25.
Take Long position @ SUPPORT LEVEL 1
TARGET @ 27.5
SL @ 22
The 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...