ADANIENSOL trade ideas
ADANI TRANSMISSION - Elliott Wave ViewSince this is a complete waterfall, it is yet hard to say if the stock is correcting or if it's going to remain bearish only. Seeing the fundamentals and the energy around the stock, it is unlikely that it will pickup any time soon.
As per technicals, this is a complete bullish cycle completed. This is based on the Elliott wave theory.
Adani TransmissionAdani Transmission looks weak like other Adani Group stocks. It has however started forming a doji and dojis can be a sign of reversal. We will have to see whether this stock can reverse or not. If it doesn't then it is best to stay out. If reversal comes in the next week then one can look to accumulate.
Adani Transmission - Important zonesKey highlights:
- Structural low intact
- Tapped into the weekly demand zone
- Important flip zone near 1460-1650
- HTF structure is bullish
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers!
Rajat Kumar Singh (@johntradingwick)
Community Manager (India), TradingView
Evening Star with Divergence An evening star is a candlestick pattern used by technical analysts to predict future price reversals to the downside.
Although it is rare, the evening star pattern is considered by traders to be a reliable technical indicator.
The evening star is the opposite of the morning star pattern. The two are bearish and bullish indicators, respectively.
Script = Adani Transmission
Time Frame = 15 min
Top and Bottoms: Price and Volume IndicationsHi, I personally look for following scenarios while identifying potential tops and bottoms and it works most of the times.
For tops:
High volume bars with very little progress on the upside
Exceptionally wide bars with very high volume
For bottoms:
High volume bars with little progress on the downside
Exceptionally wide bars with very high volume
This might sound confusing at first instance but it’s a very simple concept. Let us understand with the help of an example.
Adani transmission had a very sharp rally of 125% for approx. four months. But let’s see how this rally ended.
Notice very high volume indicating too much effort but the day had very little progress on the upside. Have you ever thought why this is so? Obviously due to sellers. Someone is stepping on it selling huge in a euphoric rally. This weakened the stocks.
Immediately after few days of this candle the stock made new high accompanied by a Doji. This is the first day in the entire 4month rally that it had a very high volume on a red day. Remember, we already had a weakness discussed above and this one was just a timely addition to this.
The stock lost buying interest after these two events. What may happen if buyers are not interested in a stock? Selling, right? Unfortunately, the reaction was very sharp and halted near a prior resistance level 3000, which is also a 50% retracement of the 4month rally.
Notice very high volume which I have labelled as stopping volume. Wide candles and huge volume again stopped the bearish rally. I won’t buy high volume down bars unless they are tested which it did with a lesser supply. It means that most sellers are out of this stock and not much selling left (at least for now).
The stock has since been trading in a range of 300-400 points. This strength (retests and hold) discussed above may hold the stock above 3000 for a push on the upside.
Do not consider this as a tip. This is just a concept that I wanted to share. Please apply your due diligence before hitting the buy button 😉
Thanks for reading
Now you know what do..hit 🚀🚀🚀 and enjoy trading.
Ready for short in Adanitrans in 2hr TFHello, 🤗🤗Friend's This stock is mainly for 20-06-2022 Intraday player's. We can see 👀 Transmission is going to blast. We are totally bearish 🧐 view on Transmission. We will sell this when price cross 1995 ❌ down & substain below with the accurate target🎯 of 1930,1871.We are ready for you Adani. Don't forget to add it on your watchlist for Monday.
Have a profitable Tomorrow👍👍👍.