Adani ent. seem to be at the current swing high. I think profit should be booked at this level. Or at least half of the stocks should be released, and stay with rest half.
Observations::
Drop base drop is observed
now stock price @ base, but no sign of bearishness...
after showing bearish again consolidation...
may again goes bullish or reversal we have to wait for confirmation.
If base acts as resistance price again falls.
we have demand zone @ bottom price will test that zone but not immediately...slow process is going to observe....
After all what is analysis to me, it's a ego satisfaction, to some deep level.
Market moves, on its own merits, and I can't pinpoint it on my merits.
But, there are moments of celebration, which we must cherish.
Can take pe in morning but evening session is risky to hold pe. If whole day nifty fall then tomorrow also it will be bearish. Be careful today eve may reverse from down side.
ENTRY IS GIVEN AT 2140
STOPLOSS IS AT 1820
TARGET IS 3900
Double Bottom Pattern
This View is purely based on Technical Analysis and is for educational purposes only.
As discussed in the earlier analysis, I was biased towards long side in this script. Now, since it has travelled a great distance, near term hurdles are shown in the chart drawing.
Observations::
-------->> the stock is trending upwards.
-------->> now price is at the zone where a strong sell off happens previously, may price again fall from this zone.
-------->> careful at this zone before going long.
--------->> we have a trendline support as well. keep track this level for further movement in the stock.
Note::
Keep on sell side from this...
Price is in the accumulation phase of the Market maker buy model, Specifically, this is a second level of accumulation, I am expecting a displacement towards the Draw on Liquidity as we spent lot of time in the zone
Provided if the Stock breaks the level of trendline in upcoming Trading Session, there is a chance for going long for Swing Trade. There is good volume coming up in last few days. There has been some positive news in Adani Ent .
If the price breaks above the level and then retests the levels and moves in a up direction we can have a swing trade in Adani Ent.
I...
NSE:ADANIENT had formed a symmetrical chart pattern in 1 day timeframe. And had been consolidating from couple of months. currently its is nuetral. Waiting for a clear breakout.
If it's gives breakout in upward direction. Then take a long position.
first target Rs 2065
second target Rs 2368
If it's gives breakout in downward dorection. Then take a short...
Price volume volatility has squeeze. A break out either side would lead to a massive move. On the down side the Mother candle, "The Noisy candle of 6 February that led to the massive fall" still not taken out. Triangle pattern correction towards low side indicate that down trend may continue. A price volume squeeze indicate that that a big move is about to take...
