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.