Long Adani Power stock after the BO of 50 EMA Level. In the past whenever stock has touched 50 EMA is the key area to go long. Now Long entry above 330 for the target till 350++ with SL 0f 310. This is for your educational purpose only.
As all knows about adani group stocks tanked down due to hindenburg report, so, i though to share next course of action on those, follow the levels for entry, support and target.
Adani Power Ltd (ADAN) break out level
New s : Adani Power to start exporting electricity from India to Bangladesh
Yesterday strong Breakout with high volume.
Momentum created in adani power stock
Time to go for long adani
Buy above 408
Next target 432,462,510
Thank you
Adani Power has broken the previous top and if sustains above 355 we expect to see 385 and 405 in upcoming sessions.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Stock Name - Adani Power Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 346
#This is not Buy and Sell recommendation to any one. This is for education...
Please have a look into the chart to get all details, I have tried to draw everything as much i found according to my study.
This Analysis is Based on Harmonic Pattern, Fibo & Price action.
If agree with this Analysis, Then Please LIKE....As well as can Follow me to getting my future analysis.
HAVE A GOOD GREEN TRADE
Breaking above 135, the price closed on 143.20.
Initial target is 166, which the stock last reached in the week ending 7 June 2021.
Price movement above 166 could go till 175-180.
Weekly chart shows positive price action.
Good support zone at around 121, if the price fails to sustain and breaks below 135.
Volume looks strong.
Relative strength is positive...
Adani power underwent a lot of correction recently but now took the support of a trendline. If the 113 level is crossed, then we might see the above targets.
Here, the targets are forecasted by the XABCD bearish bat and butterfly patterns. This is a very risky trade considering the stop loss level being 20% below the buy level but highly rewarding if the trade...
*Always Enter With good confirmation & Maintain proper Risk Reward.
**********Educational/information purpose only **********
>> Visit My Ideas Page for Daily Stock Analysis, Follow for Live Updates. <<
Adani power has completed wave 1 and 2 and now it is in wave 3, daily macd has also given positive crossover along with bbc and trendline breakout with good intensity of volume, if wave 3 is going to be equal to wave 1 then it can be at 135 levels and if wave 3 extends by fibonacci 1.618% the it show atleast 162 or more, overall one can go long with mentioned key...
