ADANIPOWER trade ideas
Adani Poweran update to my last post. many had already drawn the bullish flag. but also imp to see is how it managed the support level i had mentioned. now it needs to break the resistance for 52wk high move.
SHORT TERM INVESTMENT PICK (30-50% in 60-120 days)SHORT TERM INVESTMENT PICK (30-50% in 60-120 days) Price has formed its round bottom looks great @ CMP for good upside up to 90/135. One can enter now. However the best entry could be either on a pull back to 46-50 or daily close above 69.
LONG ADANIPOWERThe chart of AdaniPower shows the strength of the stock and taken breakout from the downsloping channel, we may see some good rallies in the stock if market sustain above 11 K mark.
Adani Power short termHas started wave 5 up & min 5=1 gives upside to 71. Likely it will be bigger retracement to the larger channel to 79.
Bullish flag pattern in Adani PowerIn Oct 18, there was monthly breakout
On weekly basis - trend is uptrend
Trading above 50 & 200 EMA on weekly chart
Formed the bullish flag pattern. If it goes up then next targets could be 67, 73, 90.
adanipower option play adani power in range so trying to play with options opened positions today will close when it reach 10% ROI
Strategy Positions
+1x 29AUG2019 60CE - ₹ 2.4
(-6000)
+1x 29AUG2019 60PE - ₹ 1.8
(+4000)
+1x 29AUG2019 61PE - ₹ 2.45
(0)
+1x 29AUG2019 61CE - ₹ 1.95
(-1000)
+1x 29AUG2019 59CE - ₹ 2.9
(+2000)
+1x 29AUG2019 59PE - ₹ 1.5
(-1000)
Max. Profit
₹ Undefined
Max. Loss
₹ -220,000
Breakevens
55.7-64.3
Total PNL
₹ -2,000
Estimated Margin/Premium
₹ +260,000
ADANIPOWER-LONGVPDDS Methodology: Long @ 59.3, stoploss @ 58.25, Target 61.4
Note: This analysis is only for educational purpose
Adani Power near major supply zoneThe price has moved upward from its demand zone around 30 with volume and has reached into its multiyear supply zone. If taken out decisively can reach to 90 zone.
Adani Power: Long term game changer levelAdani Power
CMP 65.2
At Cmp and on dips towards 58 the stock can be looked for buying. Target for the current setup 84 / 91
Momentum on close above 70.40
Take care & safe trading...!!!
