AWL trading between the channel and positioned near the bottom line of channel. We can expect a sharp up move from the base of the channel and have also good Risk/Reward Ratio positionally.
In the Weekly Chart of AWL ,
we can see that, after applying Fibonacci, it has formed a Decision making candle on last support level.
Enter on breaking is HIGH with LOW as SL.
As Per Swing Trading strategies and Technical Analysis AWL looks Bullish.
buy this Stock Near 402-404, Stop Loss 375 Target 440,460 Time Frame 90 Days.
Risky Call
only For Educational Purpose.
BUY - ADANI WILMAR LTD
CMP - Rs. 419
Target - 1: Rs. 620
Target - 2: Rs. 740
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Technicals - Descending Channel Breakout
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This is just a view by an expert analyst, please invest at your own risk.
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AWL break the downward trend line and closed above the trend line (above 406.55). Now stand at make and break level. It can go 384 down side and anyone go for long with 390 SL.
Summarily, it is the good accumulation zone atleast for 20% in short term.
In short time frame, with 399 SL long is good.
Thank you.
Disclaimer.
I am not SEBI registered analyst.
My studies are for educational purposes only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kind of your profits and your losses.
As all knows about adani group stocks tanked down due to hindenburg report, so, i though to share next course of action on those, follow the levels for entry, support and target. Fundamentally good stock.
Supply and Demand Zones For Day Time Frame Chart Analysis
Major Support 1 - 344
Major Support 2 - 313
Major Resistance 1 - 421
Major Resistance 2 - 499
Major Resistance 3 - 558
NSE:AWL is a one of the company of Adani group with below average fundamental but with the good business model.
currently, on the daily chart frame the company has made a vivid head and shoulder pattern. and also it consist of many gaps in the past.
so fresh investors should avoid this company and wait for the good valuations. and it has sell target of 472.
NSE:AWL
Hi
Next three seller Freeze levels can be 360.95 , 342.9 and 325.7. chart shows that 355 to 392 was the accumulation zone last time after IPO.
so selling pressure can stop in this range and buying can be seen. if breaks below 300 then looks no support. more risk more gain , Indians can not eat without cooking oil and Fortune brand is sold...
In the weekly chart of AWL, we might see a trend change from last FIBONACCI level.
Buying might start from 350-370 levels.
Wait for a Bullish candle and pattern.
Let the chart confirm the Trend change and then enter with SL
Shares of Adani Wilmar have crashed and have broken the recent low as well. Be careful in this stock and do not enter until price stabilizes. All Adani Group Shares are under pressure due to the Hindenburg Research Report. Let us see what the developments are in the future regarding this fiasco. In the meantime keep it on your radar.
There is this very famous saying in Stock Market - Market keep doing what it wants to, and news/events are just excuses given for small traders to satisfy their logics.
You can see this in charts of various Adani group of Shares. check below charts -
These shares were already in correction mode before this report.
Now decide...
