Adani Power has given break out of Upper Bollinger Band on Friday-07/08/2020 and today confirmed also with increase in volumes and Interestingly the breakout happened after squeeze. This may well be a new trend direction indicator Prior Squeeze period was for last 17 Days, so we expect a target of 39-41.9-43.5 in next 7-15 days.
The stock has been trading in a narrow range since a long time now and in the last trading session we witnessed bulls taking over and a strong closing. A quick upside of atleast 10% can been seen in this counter....
This is my first drawing i have seen in adani power daily chart it is forming triangle pattern
NSE:ADANIPOWER gave a triangle breakdown. Let it move further down to short, as a possibility of fake breakdown is there too.
Adani power is trading on Uptrend now and in the chart i have shown that the Price is very near to support level. The line is Trend line near the end point, Wait for the Price to cut across Trend line and Breach support line. Trade only after Trend line is breached and support resistance is crossed. It could give 10-12 % Up-move from the Level
Buy NSE:ADANIPOWER TP: 38.9 SL:32.8
Expecting reversal from Support trend line. Buy at CMP Target = 32 SL = 29.95
SL compulsory. signal candle low as sl
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I found a swing trade opportunity in ADANI POWER.
Upon reaching the short term resistance based on the previous trend pattern, the stock has the potential to go long with as high as 13%.
This is my first post - pls do paper trade
SIMPLE EXAMPLE OF ADANIPOWER HOW TO UNDERSTAND FAKE BREAKOUT IN CHANNEL PATTERN
adani power analysis. if it break 70 then it gives big moves... so now waiting for a breakout..