Friday, January 31, 2014

Adani Technical chart

Hi friends,
                    Lets look at Adani Technical chart ,The stock rallied from last year september
till mid of december 2013,And after that its in downward move slow drop in parallel channel.
Lets see its daily chart.
Adani Technical chart
So we can see the correction is maintaining a parallel downward slopping channel.
Lets look at the correction closely ,On hourly chart.
Adani Technical chart
From hourly chart we see that we have finished abc correction and again started another
abc correction ie 2 abc corrections joined by a x wave so eventually a wxy correction is on
right now we are in y leg which should minimum do 225 which is downward channels
lower trendline.Once wxy gets complete we should have a good long trade on our hands.



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