🚀 ADANIPORTS Trade Idea - Daily Chart 📈
Looking for a potential bounce!
🤔 Why this trade?
✅ Extended retracement suggests potential support/reversal zone.✅ Approaching Wave C target zone - potential strong support.✅ Potential for a good Risk/Reward.
💡 Pro Tip: The chart highlights a "New demand Zone at extended retracement zone" and a "Retracement zone for Wave B." If the price dips further, watch for strong buying volume or bullish candlestick patterns within the 1051-1094 INR zone as confirmation of a reversal before entering. Consider using a smaller initial position size and adding to it if the price shows strength within the zone.
⚠️ Risk/Reward Calculation (Example - You MUST calculate your own based on YOUR entry):
Let's assume entry at 1072 INR (midpoint of the Wave C target zone) and the defined stop-loss of 1051 INR:
🙏 Important:
⚠️ This is just an idea, not financial advice.😟 Trading has risks – you could lose money.🧐 Do your own research before making any trades.
Looking for a potential bounce!
- []🛡️ Price: Around 1128 INR (currently) - Consider scaling in if it reaches the "Target at Wave C (intermediate wave)" zone of 1051-1094 INR.
[]🎯 Target 1: 1341-1372 INR (Wave C target zone)
[]🎯 Target 2: 1474 INR (Second Target)
[]🛑 Stop-Loss: Day close below 1051 INR
🤔 Why this trade?
✅ Extended retracement suggests potential support/reversal zone.✅ Approaching Wave C target zone - potential strong support.✅ Potential for a good Risk/Reward.
💡 Pro Tip: The chart highlights a "New demand Zone at extended retracement zone" and a "Retracement zone for Wave B." If the price dips further, watch for strong buying volume or bullish candlestick patterns within the 1051-1094 INR zone as confirmation of a reversal before entering. Consider using a smaller initial position size and adding to it if the price shows strength within the zone.
⚠️ Risk/Reward Calculation (Example - You MUST calculate your own based on YOUR entry):
Let's assume entry at 1072 INR (midpoint of the Wave C target zone) and the defined stop-loss of 1051 INR:
- []Potential Gain (Target 1 - using midpoint): 1356 - 1072 = 284 INR
[]Potential Loss: 1072 - 1051 = 21 INR
[]Risk/Reward Ratio (Target 1): 284 / 21 = Approximately 13.5:1
[]Potential Gain (Target 2): 1474 - 1072 = 402 INR - Risk/Reward Ratio (Target 2): 402 / 21 = Approximately 19.1:1
🙏 Important:
⚠️ This is just an idea, not financial advice.😟 Trading has risks – you could lose money.🧐 Do your own research before making any trades.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.