Take LONG position if it breaks out the channel and daily supply zone
Target - Monthly Supply (Around 60)
Take SHORT position if it breaks out of the channel downwards , On reaching Weekly demand - Take Long position
Breakout in any direction will active our trade.
We have a rejection zone around the 36-37 level where stock is facing resistance.
We can play the channel by buying near the lower trend line & selling around the upper trendline.
or We can wait for a breakout in any of the directions & trade that.
I will update the levels once the trend line is breached.
>>>#Adanipower may post the inline result or bad result post result stock may touch 30.00 level and this level will decide future movement. If stock break 30 we can see the major downside and if stock break 33 level we can see upside post result.
Adani Power Ltd. engages in the production of thermal power. It operates solar power, and coal-based thermal power project. The company was founded on August 22, 1996 and is headquartered in Ahmedabad, India.