adani port elliot wave analysisadani port daily chart analysis
1 adani port daily chart analysis new wave start 20 june 2022 and continue upside . internal wave of new wave count (1,2,3,4,5)
Wave (1) start 20 june 2022 this time price of adani port is 203 and end this wave 6 july 2020 price 366
Wave (2) start 6 july 2020 price 366 end this wave 5 april price 885
Wave (3) start 5 april price 885end this wave 20 july 2022 price 655
Wave (4) start 20 july 2022 price 655 end this wave 19 sep 2022 price 987
Wave (5) start 11 23 dec 2022 price 2091
this stock internal sub wave 1,2,3,4,5 complete daily chart and 2 or 4 trend break and pattern confrim downside
Port
ADANI PORT --LOWER CHANNEL BREAKOUTADANI PORT --HOURLY CHART SETUP --LOWER CHANNEL BREAKOUT
1, Adani port seen lower channel breakout on hourly chart last hourly candle .
2. Pullback seen around 785-790 sub level trendline breakout above 805 level
3. One can initiate Buy 810-820 range for positional target 830-850-880 stop loss bellow 780 level
4. Trading above 44 HMA on hourly chart .
5. RSI above wma .
THIS IDEA IS FOR EDUCATIONAL PURPOSE ... trade at own risk ,!!
HAPPY TRADING ,!
ADANI PORT - POSITIONAL ADANI PORT -- DAILY CHART -- POSITIONAL
1. stock on daily chart seen trendline support level last closing candle
2. at trendline support combination of hammer and doji candle seen which is sign of trend reversal from current level
3. trix line shows at near oversold line also indicate possible bounce back from oversold level
4. current trendline support is near previous breakout level also indicate strong support at current level 780-800
5 . one can initaite BUY at 790-800 for positional trade target 825-850-900 + ( 1 month ) stop loss 750
** THIS IDEA IS FOR EDUCATIONAL PURPOSE .. trade at own risk .!!
HAPPY TRADING ,!
ADANI PORT -- INTRADAY SETUP --22/08/2022ADANI PORT --15 MIN CHART - INTRADAY SETUP -- 22/08/2022
1. Adani port seen trendline breakdown strong bearish candle on 15 min chart , last closing candle
2. DOUBLE TOP formation seen on chart at 880-882 level which is short term intraday bearish momentum next session
3. SQZMOM indicatior also shown double top formation and further fall can seen from this level
4. Short adani port on intraday at current level 869 For intraday target 860-850 stop loss above double top level 885
THIS IDEA IS FOR EDUCATIONAL PURPOSE ..trade at own risk. !
HAPPY TRADING !!
ADANI PORT --- INTRADAY SETUP - - 04/07/2022ADANI PORT --- HOURLY CHART -- INTRADAY SETUP
1. stock seen double bottom formation at 655 level
2. Rounded bottom pattern seen on chart after double bottom stock move upword direction.
3. while formming rounding bottom stock having support 21, 44, 200 Hull moving avg, seems upwrd movement continue from current level
4. Histrogram seen bullish reversal from downtrend at last hourly closing candle
5. Stock currently trading at trendline breakout where breakout turn strong bullish momentum
6. BUY at current level 678 for intraday target 682-685-692 For stop loss 668 bellow intraday support 672
* THIS IDEA IS FOR EDUCATIONAL PURPOSE ** trade at own risk . !!
HAPPY TRADING. !!
ADANI PORT-- INTRADAY SETUP -- 09/05/2022ADANI PORT -- HOURLY CHART -- INTRADAY SETUP --09/05/2022
1. stock seen at oversold line at hourly chart , most possibilities bounce back from this level as seen on chart wave trend seen move upword.
2. Resistance line as well as trend line intersect the point where stock close at last trading session sub 812 level
3. breakout of resistance line and trendline will be above 813.50 level stock will be seen upside movement near term
4. strong support seen around 800-810 level whereas resistance seen around 840-850 level
BUY ADANI PORT intraday above 813.50
TARGET 825-835
stop loss 795
&& THIS IDEA IS FOR EDUCATIONAL PURPOSE .. trade at own risk
HAPPY TRADING. !!
Reliance- Will it start moving down to 930-940 zone?(( ))- circled wave
Corrective Wave, which started from 930 lows has fulfilled the minimum criteria of kissing the zone of 1035-1040 as expected in previous updates by making a close recent high@1032- where it travels 61.8% of ((ii))-((III)) wave distance & could be a double top which is not confirmed yet.
Trading strategy
It should hold below 1030 to give us confidence that a down leg has started for the 930-940 zone-likely trading in the range of 1020-1025. So, In coming session we need weakness in the stock & if that turns out correct, then we will likely plan to take selling opportunity on the bounce back & keeping a tight stop loss of 1033 & above.
Risk/Reward- 8.25 - Gain of 90 points & Stop of 11 points.
Related Analysis Attached Below