Sharing a fresh daily chart setup for Adani Power. The price has recently pulled back into the ₹145–₹137 demand/support zone after a sharp bullish move and is currently consolidating near the ₹146 structure level, suggesting potential continuation if buyers defend the support area.
Trade Plan
Entry Zone:
₹145 – ₹147 (on sustained hold or bullish reaction from the demand zone).
Stop Loss:
₹137.40 (below the key support / invalidation level).
Primary Targets:
₹166.19 (near-term resistance level)
₹187.53 (major resistance / structure level)
₹198.34 – ₹198.44 (upper resistance / extended target zone)
Chart Observations
• Price is currently retesting a demand/support zone around ₹145–₹137.
• The zone previously acted as a breakout area, indicating possible accumulation if buyers continue to defend this level.
• The ₹166.19 level represents the next key resistance where price may face selling pressure.
• If momentum continues above this level, the chart suggests a potential move toward ₹187.53 resistance, followed by the ₹198 resistance zone.
Notes
• This setup combines price action with clearly defined support and resistance levels to create a structured risk-to-reward opportunity.
• The invalidation level at ₹137.40 keeps downside risk clearly defined if the support zone fails.
• Traders may consider partial profit booking near ₹166.19 and trailing positions toward the higher resistance levels.
Disclaimer
This idea is for educational purposes only and not financial or investment advice. Markets are volatile and conditions can change quickly. Always conduct your own analysis and apply proper risk management before taking any trades.
Trade Plan
Entry Zone:
₹145 – ₹147 (on sustained hold or bullish reaction from the demand zone).
Stop Loss:
₹137.40 (below the key support / invalidation level).
Primary Targets:
₹166.19 (near-term resistance level)
₹187.53 (major resistance / structure level)
₹198.34 – ₹198.44 (upper resistance / extended target zone)
Chart Observations
• Price is currently retesting a demand/support zone around ₹145–₹137.
• The zone previously acted as a breakout area, indicating possible accumulation if buyers continue to defend this level.
• The ₹166.19 level represents the next key resistance where price may face selling pressure.
• If momentum continues above this level, the chart suggests a potential move toward ₹187.53 resistance, followed by the ₹198 resistance zone.
Notes
• This setup combines price action with clearly defined support and resistance levels to create a structured risk-to-reward opportunity.
• The invalidation level at ₹137.40 keeps downside risk clearly defined if the support zone fails.
• Traders may consider partial profit booking near ₹166.19 and trailing positions toward the higher resistance levels.
Disclaimer
This idea is for educational purposes only and not financial or investment advice. Markets are volatile and conditions can change quickly. Always conduct your own analysis and apply proper risk management before taking any trades.
Trade closed: target reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.