Adani power at 102.
Because of coal shortage and goverment change some policy and on chart look very good....above 113 bull run start sharply on target 150 to 160 look to fill the upside gaps & stop loss is below 90 it is almost 1:4...
1. HEIKIN ASHI TREND SEQUENCE PERFECTION
Look at the above 2 candles mentioned.
Candle 1 - Doji formation indicating the end of further down trend.
Candle 2 - Green bullish candle with no tail, indicating strength of bulls.
2. Volatility squeeze & Breakout.
The scrip is making descending triangle which is a sell pattern but the trade is given on the buy side as the market is reacting differently to Adani group stocks. The stock has very weak fundamentals which is a huge downside
Hello friends,
Trendline b/o seen today on daily time frame.
One can took long position in it if tomorrow started to go upside again.
Use add on dips theory.
Entry :- 112
SL :- 102
Work in small quantity...like 100 to 300.
Make position as per your risk reward ratio.
This is only for educational purpose, take advice from your financial advisor before taking any...
It would be very interesting to see whether it could sustain at this level or not
Either it can be super bullish like adani enterprise or it can be down tomorrow like mothersumi
The way it has reached the levels of June 2011, there seems to be good upmove coming.
From here, with 98-100 stop loss, it can be a good long for a target of 115, 119 and 128 eventually.
Volumes have been good and shows some positive sign.
...
Adani Power Ltd. is a thermal power producer, engages in the generation and transmission of electricity under long term power purchase agreements and on merchant basis in India. It generates electricity through thermal and solar energy sources. The firm has various power projects at Mundra, Gujarat, Tiroda, Maharashtra, Udupi, Karnataka. It also trades in coal. The company was founded on August 22, 1996 and is headquartered in Ahmedabad, India.
NSE
