ADANI ENTERPRISE LTD (1D)
CMP 2550.50
Price is consolidating in a narrow range
Ascending Triangle pattern in formation Waiting for breakout
Testing support zone & bouncing from support line
Can move higher from Current Levels
One can consider for Investment for period 3-6 Months
Reason for long
a) Triangle breakout
b)Indicataor support like renko, rainbow, POC, super vwap
c) QQE negative Hence sl compulsory
d) pattern is trendline breakout
After the earning numbers on 3 Aug, price just it as an event to gain momentum and now the Breaker block is formed and I can't see any reason for it not to go up.
Algo used the High of Breaker Block and now will seek Buyside liquidity.
Reason for long
a) Trendline breakout
b) Super vwap set up
c) wave 4 correction in progress
d) consolidation breakout and pull back set up
SL compulsory
After Long consolidation Price is near to breakout line
Price above the All DEMA
Chart looking is good for swing trade
Wait for Breakout because quater result out soon.
Disclaimer this is for education purpose only.
No recommendation any buy-Sell
Read the charts,
Consolidation zone breakout, volumes are growing can be bothways of dump also.
So take a small SL for longs.. Short can happen once the results are out.
Price has reaced to a Monthly Supply @ 2665.00
It has to come into Monthly Demand @ 1944.00
After reacting to a Monthly Supply Price has formed a Weekly Supply which should drive the Price till the Monthly Demand
The Reward to Risk Ratio is slightly more than 3:1
Hence Short
Enjoy the Ride !!!
observations::
price is trading in a range and price broken down strongly....
price again reached the same zone...
now price is near to the resistance...
it is approaching the resistance again with strong consolidation...
which also a sign of bearishness...
on bottom side we have strong support...with demand zone...
Hi every one
let risk 2850 CE august 2023
You can buy Adani Enterprise in 15 min chart small sl ke sath kyuki up hi jayenga
SL hit jaye to vapas buy lekin buy hi every dip me
As per my analysis, NSE:ADANIENT has given a pullback which could be best opportunity for buyer to go long. My best level to buy is 2384 with stop loss of 2270 (-114 points risk) capacity. Expecting upper side target of 2594 (+210). Almost 1:2 Risk/Reward.
Note. This is my personal analysis, only to learn stock market behavior. Thanks.
The price started to build order in tight consolidation and then took the sellside and did a manipulation move till mitigation block wick and then showed sponsorship now the OB has been created and the buyside is the only target that algorithm can see which lies at 2762.25 at 23 May High and then if it closes above we can see movement till 3068 for more upside liq
