ADANIPORTS : LOOKING FOR A POTENTIAL BOUNCE!🚀 ADANIPORTS Trade Idea - Daily Chart 📈
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.
