Adani Ports - Good Money & Learning For Readers (Pls Read Fully)A friend of mine asked me to consult him on Adani Ports , so I did.
Uploading the same for the benefit of all my folks here at Trading View.
Adani Ports is in it's main 3rd of a large degree (Wave count marked in Red). It's in the last stages of completing this 3rd as depicted on the chart.
It should now go for it's last move up before it completes the 5th of 2 smaller degrees (Wave count marked in Orange) and also it's 5th of 1 smaller degree (Wave count marked in Blue), thus completing the main 3rd at around 725 (marked in dotted Green line on the chart). The main 4th of a large degree (Wave count marked in Red) should then begin its descent from these highs. Since the main 2nd was simple and shallow, the main 4th could be complex, irregular and deep as per the guidelines of alternation, hence having the potential to throw the prices right upto 575 (marked in dotted Red line on the chart). This is also the range of the 2nd of smaller degree (Wave count marked in Orange) as per one of the guidelines.
One interesting observation is the Expanding Wedge type Ending Diagonal that I have drawn on the chart for educational purposes, which is a common phenomenon in a 5th (Wave count marked in Orange)
Cheers !!
NOTE: This view shall be invalidated if the price goes below 613 with force.
Long
