There is a lot of Bad News in the market for the Adani Group of Stocks.
ADANIENT
in the past has fallen sharply. They said it was because of bad news but Price Action Traders did predict this downfall before it happened. Because at that time it was too expensive to buy, i.e., called an Over-Bought condition. And this condition triggers a big fall.
After the big fall happens, the Stock immediately becomes over-sold. And the price starts moving up again. That is exactly what happened in
ADANIENT
also.
Currently, the price of this stock is trapped and moving sideways between two Trap Zones. A Cup and Handle pattern is also visible in this chart which should take the price up and break the Resistance to confirm the Up-Trend.
There are two ways to trade this kind of setup:
1. Start Buying in Tranches on every Dip and Hold
2. Buy after the Resistance is taken out and the Up-Trend is Confirmed.
The expectation is it will achieve 4190 again.
Disclaimer: Stock trading is inherently risky and you agree to assume complete and full responsibility for the outcomes of all trading decisions that you make, including but not limited to loss of capital or even provision of additional margin in futures trading. None of the stock trading calls made by Prosenjit should be construed as an offer to buy or sell securities, nor advice to do so. All comments and posts made by Prosenjit, and employees are for information purposes only and under no circumstances should be used for actual trading.
ADANIENT
in the past has fallen sharply. They said it was because of bad news but Price Action Traders did predict this downfall before it happened. Because at that time it was too expensive to buy, i.e., called an Over-Bought condition. And this condition triggers a big fall. After the big fall happens, the Stock immediately becomes over-sold. And the price starts moving up again. That is exactly what happened in
ADANIENT
also. Currently, the price of this stock is trapped and moving sideways between two Trap Zones. A Cup and Handle pattern is also visible in this chart which should take the price up and break the Resistance to confirm the Up-Trend.
There are two ways to trade this kind of setup:
1. Start Buying in Tranches on every Dip and Hold
2. Buy after the Resistance is taken out and the Up-Trend is Confirmed.
The expectation is it will achieve 4190 again.
Disclaimer: Stock trading is inherently risky and you agree to assume complete and full responsibility for the outcomes of all trading decisions that you make, including but not limited to loss of capital or even provision of additional margin in futures trading. None of the stock trading calls made by Prosenjit should be construed as an offer to buy or sell securities, nor advice to do so. All comments and posts made by Prosenjit, and employees are for information purposes only and under no circumstances should be used for actual trading.
