ADANIPORTS trade ideas
Adani Ports - Going to hit ATH? Strong on chartsScript: Adani Ports
Nifty50 Stock : YES
Sector : Ports
PE Value : 43
Results : Results published on 8th Aug, Revenue 12% up but earning/profit was 30% down. Previous quarter result earnings was also 30% down which doesn't look good. Financials to be checked to understand their expenses/investments.
ATH (all time high) - 925
Adani ports is looking strong on charts.
Weekly chart : It hit bottom of 652 back in June and then keep moving higher up and hit ATH 925 recently.
Daily chart : RSI is above 70, High volume appeared, getting momentum! Closing above 900. Looking good so far!
As per OI , 900 appears to be major resistance which has been tested multiple times this year hence getting weaker and may get broken soon. Heavy call writing seen both at 900 & 920. Call writers @900 will get stuck if it sustains above 900 and will start running for cover if crosses 925.
9th Sept 2022 closing is above 900, may gap up on Monday and could trigger major short covering next week or by
end of this month if market remains positive which is very likely.
Immediate targets would be 998, 1044. If sustains above these levels then we could see it hitting 1097 & 1200 as well.
*** For F&O - Always hedge your position or keep SL in the system *** Play Safe! Protect your Capital! ***
ADANIPORTS - TRADE PLANCheck out the trade plan for ADANIPORTS today based on the technical analysis. Hope this analysis is useful, make sure to hit the thumbs and also follow my tradingview profile for future updates. Thank you!
If ADANI PORT goes for a sell-off then we will see the formation of a triple top on the following resistance area. Price requires to confirm the direction with a breakout or pullback here.
Chart of the week. Adani Ports.After a year long consolidation, Adani ports has given a up flag breakout on its weekly charts. Investing in Adani group is no brainer! Especially after such a long consolidation, we can expect stock to fly as other Adani stocks. As per Fibonachi, targets are
CMP - 906 (11/9/22)
T - 975, 1110, 1300 W
SL - 800 W
View - Medium to Long term
AdaniPort Both side move possible~Short 850>770 & Long 770>950 AdaniPort
Elliot wave analysis
1) (a) 1 Day time frame Wave 4 Complete and Wave 5 start this time
(b) Wave 5 Target 1012-1050 Around
2) 2 hour tf Wave 1 Done & this time Adaniport at correction mode
(Wave A Done, B wave Still Running, Wave C coming soon)
3) Big opportunity for inverters those miss dip entry
Swing Trades ~~
1~ Short 850-870 Target-798 &770
2~ Long Around 770-800 Target 1012-1050
Note:~~ 890 chart Invalidation Level
Adani Port IndiaSSI Live Trading Series
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