Adani Port Special
CMP:- 1298
ENTRY ZONE :- 1295-1285
1ST TARGET :- 1264
2ND TARGET :- 1231
3RD TARGET :- 1182
4TH TARGET :- 1113
STOP LOSS :- 1356
R/R is 1:3
We may get return like 4-14%
For educational purpose only
Adani Port Retested its Breakout Level one can go long in this stock with sl 1330 for tgt 1410.
Disclaimer: I am not SEBI registered Analyst Kindly consult your financial Advisor before taking any trading decisions.
An ABCD Harmonic pattern is under formation in the Adani Port chart with a possible price reversal at 1323.90 (which also confluences at Bhoomi's first bullish target)
We can have a short-side trading opportunity with the least SL on completion. Updates once the formation is validated on completion.
Considerable good volume buildup in past few days.
Near to all time high time level, once price confirms breakout with closing above the trendline.
Good opportunity for both swing and intraday.
NOTE: I do my analysis, do your before trade.
Reason for long
a) Short covering rally possible
b) Nifty also in short covering rally as per OI
c) Both Nifty and Adaniports - Price up and OI of down represents short covering
d) Possibility of all-time-high breakout in May month rally
e) Nifty 50 stock...
f) may participate in pre-election rally of another 5 % in April Month
g) SL compulsory
The pattern appears as an upward-sloping price chart featuring two converging trendlines. It is usually accompanied by decreasing trading volume. Wedges can either form in the rising or falling direction. A rising wedge is often considered a bearish chart pattern that indicates a potential breakout to the downside NSE:ADANIPORTS
Adani Ports and Special Economic Zone Limited is an Indian multinational port operator and logistics company, based in Ahmedabad, India.
Price breaks its zone on weekly time frame and still showing strength.
Only For Educational Purpose.
I think unfilled orders can push the price down, when it comes to the marked key level.
It may act as strong R zone as per the analysis.
Verify and trade.
All the best.
Adani Grp is in bullish mode. Adani port is at Breakout level. it break major resistance 1000. it can long from here or add more if come 985. it may test 1125 and 1165 soon.
