What traders are saying
FACING RESISTANCE adani port has been trading in a symmetrical triangle pattern since the month of june.
its tried to break the tl multiple time but couldnt close above the tl.
one can short the stock below 760 (positional trade ) for a target of 719 and further of 700 with SL of 795
*****pls follow risk management****
Simple Trade Setup | ADANI PORTS | 18-01-2022 [INTRADAY]NSE:ADANIPORTS
Observations:
1) On 1 day time, we can see it is at interesting range. Breakdown of this range will give down move and if it gets support from this range then we can see up move.
Please refer below chart : 1day Time Frame.
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Trade Setup for 18-01-2022
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Adani port buy opportunityAdani port looking good and ready for the breakout.
Volumes currently not great but will flow in soon.
Price has good support of 20,50,100 and 200 EMA.
RSI > 61
MACD show good momentum.
target can go > 850
Disclaimer: This is not any kind of recommendation but an educational chart. Pls invest at your own risk.






















