ADANI ENT - Higher high and Higher low patternBeautiful higher high and higher low pattern formed for education purpose.
Please comment your views.
ADANIENT trade ideas
Ascending Parallel channel in ADANIENTSupport and Resistance: Traders could open a long position when a stock's price reaches the ascending channel’s lower trend line and exit the trade when price nears the upper channel line. A stop-loss order should be placed slightly below the lower trend line to prevent losses if the security’s price abruptly reverses and also vice versa .
Breakouts: Traders could buy a stock when its price breaks above the upper channel line of an ascending channel . It is prudent to use other technical indicators to confirm the breakout. For example, traders could require that a significant increase in volume accompanies the breakout and that there is no overhead resistance on higher time frame charts
Breakdowns: Before traders take a short position when price breaks below the lower channel line of an ascending channel , they should look for other signs that show weakness in the pattern. Price failing to reach the upper trend line frequently is one such warning sign. Traders should also look for negative divergence between a popular indicator, such as the relative strength index ( RSI ), and price. For instance, if a stock’s price is making higher highs within the ascending channel , but the indicator is making lower highs, this suggests upward momentum is waning.
Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
POSSIBLE INTRADAY TRADE IN ADANI ENT.THE STOCK GAVE A BREAK DOWN FROM THE TRIANGLE,LET THE RETEST HAPPEN AND WE ENTER BELOW THE SUPPORT ZONE.
NOTE:JUST A VIEW,TRADE AT YOUR OWN RISK.
Adani enterprise, needs a careful watchHolding 385-387 prices can jump for newer highs. Unable to hold the same we can expect a deeper correction.
Don't buy at present Wait for the correction and retracement
Near 330 to 340 is our buying range
Wait for the correction
Adani enterprises Elliott Wave Correction And LongAdani Enterprises can come down till 4th wave and then go up till 410-15.
Symmetrical Triangle breakout in ADANIENT for Target of 373+Since the last few trading session, it consolidating in range by making Higher Lows(HL) and Lower Highs(LH). In today's session, we saw higher buying volume near the descending trend line it indicates the more chances of the breakout of this symmetrical triangle pattern and this stock will continue its bullish rally towards the 373+ target.
Possible trade:
Buy ADANIENT Above 361.50
Stop-loss - 358
Target 373+
This trade can give good risk-reward as 3:1(reward: risk).
Disclaimer: Before taking any position make sure you're doing trade by risk management. Also, Don't forget to take advise from your financial adviser.
Adani Enterprises #ChannelPattern #SwingPickAdani Enterprises which had reported an amazing 2nd quarter have been rallied since publishing its results and they have been trading in a range that have given a channel type of formation. Check out the chart and plan your trades accordingly. Just sharing my view.
