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.
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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...
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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...
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...
In march I was able to capture its move , similar pattern it is making now .
In the coming days it is going to give brakout and it will fly again .
With stocks like adani power it is good to take risk as it surges really fast .
I will enter even before brakout you can also think like this.
As price is touching upper circuit every day but the RSI is decreasing and moving sideways as price increasing. It might be an indication for the big downfall in near future
