|Buy Range||123 – 127|
|Target||135 – 140|
|Duration||12 – 15 Trading Sessions|
|Potential Return^||5 – 9%|
|CMP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Return^|
|124.7||BUY||123 – 127||135 – 140||120||12 – 15 Trading Sessions||5 – 9%|
# CMP on Aug 05, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 132.
^ The returns are calculated based on CMP#
Adani Enterprise with its subsidiaries engages in coal trading, coal mining, oil and gas exploration, ports, power generation and transmission, gas distribution, edible oil and agro-business in India and globally. Founded in 1988 In Ahmedabad India, Adani Enterprise is a subsidiary of S.B.Adani Family Trust.
|Sectoral Index||Nifty 500|
TECHNICAL OBSERVATIONS (WEEKLY)
- Presently, the stock price has placed just above the upward sloping support line and based on historical price pattern we are expecting the price to go up from here.
TECHNICAL OBSERVATIONS (DAILY)
- After a consistent downtrend in the last 21 days, the stock price has shifted into a sharp upside bounce in last trading session which can be a crucial breakout if the price is moving higher.
- Price is not falling further over the last 4 days. In fact, the low coincides with previous low which acts as a support. We also notice a base building process that will act as a launchpad for the next up move.
- The stock has formed Piercing Candlestick near the bottom which is a bullish reversal formation. Normally this type of candlestick suggests the bull has taken control of a security’s price movement from bears.