ADANIENT trade ideas
ADANI ENTERPRISES - NSE INDIAN STOCKAdani crashed close to 80 % from its peak before it bounce. 1st bounce is impulsive, which generally considered as fake bounce. The geniality of the bounce will will be tested with series of whipsaw movements which we are presently witnessing in this script.
Also in this script we have seen GAP's. GAPS are generally get filled but not necessary, confirmation GAPS take long time to get filled, some time it doesn't fill also. NOTE - A fundamentally robust company GAP's get filled but not all GAP's.
This script is very interesting. one observation is for sure that, after 1st bounce it will come down, Here in this case also, after 1st bounce expecting to comes down and the down target is around 1600 levels.
ADANI ENT SHORT FOR 3:1
Price has reaced to a Monthly Supply @ 2665.00
It has to come into Monthly Demand @ 1944.00
After reacting to a Monthly Supply Price has formed a Weekly Supply which should drive the Price till the Monthly Demand
The Reward to Risk Ratio is slightly more than 3:1
Hence Short
Enjoy the Ride !!!
ADANIENT Analysisobservations::
price is trading in a range and price broken down strongly....
price again reached the same zone...
now price is near to the resistance...
it is approaching the resistance again with strong consolidation...
which also a sign of bearishness...
on bottom side we have strong support...with demand zone...
ADANIENT Buying Setup 02.07.2023As per my analysis, NSE:ADANIENT has given a pullback which could be best opportunity for buyer to go long. My best level to buy is 2384 with stop loss of 2270 (-114 points risk) capacity. Expecting upper side target of 2594 (+210). Almost 1:2 Risk/Reward.
Note. This is my personal analysis, only to learn stock market behavior. Thanks.
Rs 3000 Coming, Its just a matter of time The price started to build order in tight consolidation and then took the sellside and did a manipulation move till mitigation block wick and then showed sponsorship now the OB has been created and the buyside is the only target that algorithm can see which lies at 2762.25 at 23 May High and then if it closes above we can see movement till 3068 for more upside liq