What traders are saying
ADANIPORTS | BREAKOUT | ACCUMALATE EVERYTHING ABOVE 400!!!Stock has given clear inverse head and shoulders pattern breakout over the levels of 400 on the weekly charts and has confirmed it with the following bullish candles. Stock can definitely be accumulated for a good long position on the lower levels with the stop-loss of 400 for the targets of 600.
ADANIPORTS- MOVING IN ASCENDING WEDGE? IMPORTANT LEVELS!
The bulls have been pushing up the price higher and higher since the drop in March.
Currently, the price is moving in an ascending wedge, which may break downwards. Hence, expecting a drop towards the bottom of the channel.
Also, the previous Swing Highs have not been retested. Hence, there is a possibility of a drop towards the 360-375.
RSI is already in the overbought territory. Don't think the buying momentum will sustain.
There has been a decrease in the volume recently, which is also a bearish sign.
All in all, I am expecting a drop towards the bottom of the channel.
If the trendline does not support the price, then I will look out if the wedge breaks down or not. If it breaks down, then I will look at the 330-345 and further 300-315 regions.
On the upper side, if the trendline is able to hold, then it may come will 400 region and then shoot from there.
*Everything is marked on the chart- Swing points, trend lines can be used for trading along with some momentum indicators.*
Try to look out for a confluence of these parameters, don't trade solely using any one of these parameters.
P.S: This is NOT investment advice. This char is meant for learning purposes only. This is my personal journal. Invest your capital at your own risk.
Adaniports | Range Breakout 4 % 🎯=====================================================
⭕ Swing Trading opportunity ! 30 min Chart Alert !!! ⭕
--Buy above =475 or CMP
--Target = 494
--Stop-loss = 470
--Lot Size = 2500
--R:R = 3.62
--Expected Profit = 47,000 ₹ per lot ( 3.95% )
--Expected Holding = 5-10 day only
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⭕ Technical Reasons to trade OR Strategy applied :- ⭕
1) range breakout with volume
2) we must wait for clear entry
3) target is as per the pattern height
4) bullish candlestick pattern in 30min
5) beware of fake breakout
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✍COMMENT Below your view !
ADANIPORTS TRIANGLE 15MA triangle pattern can be observed in ADANIPORTS in 15M timeframe & can be a good opportunity for intraday as well as a positional trade. The resistance has been tested multiple times now and has become weak. We can see a breakout tomorrow. We can initiate a long position when price crosses the high of breakout candle. Keep your SL to the nearest swing low. Risk management is the key. Happy Trading!






















