ADANI POWER - Swing TRADE Idea
Updated
The stock is in uptrend in all Higher time frames.
The stock has been in good consolidation for 12 weeks.
Downside wicks in the last 3 weeks indicate good buying coming in.
The last week candle seems to be an indecision candle post diminishing selling pressure and buying stepping in.
The lower time frame price actions such as Daily and 75 mins confirm the upside price momentum.
My SL and targets as mentioned in chart. I would plan a wide SL of 12% and target of 22% trailing. Target 1 - 591 ALL Time high.
The stock has been in good consolidation for 12 weeks.
Downside wicks in the last 3 weeks indicate good buying coming in.
The last week candle seems to be an indecision candle post diminishing selling pressure and buying stepping in.
The lower time frame price actions such as Daily and 75 mins confirm the upside price momentum.
My SL and targets as mentioned in chart. I would plan a wide SL of 12% and target of 22% trailing. Target 1 - 591 ALL Time high.
Comment
The stock has moved after a brief consolidation.Disclaimer
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