Wednesday, March 01, 2017

>Adaniports wave structure

Hi friends,
                   Adani ports is trading sideways for sometime now,Lets look at the chart from november last 2016 to figure out the wave pattern .

We can see overlapping 5 up making a ,Followed by a b fall .From b low a nice impulsive move showing clear 5 up in 3rd wave and an ending diagonal or wedge in 5th up,This looks quite clear we had a wedge breakdown and stock after initial dump went into sideways move which is most probably b wave move which should end near 310,And a c fall is anticipated towards 290 -280 levels which is channel support.Lets see how the chart moves .The wave structure stands wrong if it breaks 310 and crosses above high of 315.This counter saw lot of insider activity in last 1,2 months by promoter.


Blogger said...

if it breaks 310-315 what will be the target?

Thanks for your analysis.

Rish said...

above 315 should target 350ish..

Unknown said...

Like this recommendations are good

Post a Comment