ADANIENT inside bar trade Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
ADANIENT trade ideas
Adani Enterprises can move further downNSE:ADANIENT CLSA has downgraded its rating on Adani Enterprises BSE -1.43 % to 'sell' from 'underperform' due to continued margin pressures in its mainstay coal trading business and potential write-down at its Carmichael coal venture.
"Coal trading Ebitda for 1Q was less than US$1/t (Rs60/t) - down 76% YoY, with segment profit at three-year lows. ADE (Adani Enterprises) expects that the coal import volumes will not collapse as feared, due to cost benefits for customers near coastal areas ..
One can expect a Accelerated downward movement towards 68 levels before any support comes in and any weakness further from 68 can results in swift movement towards 60 levels