Adani Power: How Technical Analysis helped us capture Big run
Adani Power
Closing Price 154.10
Back on December 20, 2021, when Adani Power was trading at 47, this is what I had posted. You can read more in the link below.
https://in.tradingview.com/chart/ADANIPOWER/mMnSlEZo-Adani-Power-Looking-for-alternative-power/
Between 38-47 the risk was very minimum. I have my theory that breakouts on the 5th attempt is not an ordinary breakout. I have done that marking in the previous post chart.
This was going to be a case of potential breakout opportunity above 66 where it had already got resisted 4 times. The Gain from the breakout was bound to be high as it had to go through Pain for 8.5 long years.
The target of 115 was done 3 days back, but the stock was in momentum so we rode the movement.
Now, I have highlighted my concern that the chart is reflecting and given my reasons as to why it could be a good price to book profits for the time being.
Choice is yours whether you want to listen to the charts.
Like, Follow for more such ideas...!!! But don't follow me blindly...
Learn to identify such opportunities yourself independently...!🙂
Cheers & best wishes...!!!
Closing Price 154.10
Back on December 20, 2021, when Adani Power was trading at 47, this is what I had posted. You can read more in the link below.
https://in.tradingview.com/chart/ADANIPOWER/mMnSlEZo-Adani-Power-Looking-for-alternative-power/
Between 38-47 the risk was very minimum. I have my theory that breakouts on the 5th attempt is not an ordinary breakout. I have done that marking in the previous post chart.
This was going to be a case of potential breakout opportunity above 66 where it had already got resisted 4 times. The Gain from the breakout was bound to be high as it had to go through Pain for 8.5 long years.
The target of 115 was done 3 days back, but the stock was in momentum so we rode the movement.
Now, I have highlighted my concern that the chart is reflecting and given my reasons as to why it could be a good price to book profits for the time being.
Choice is yours whether you want to listen to the charts.
Like, Follow for more such ideas...!!! But don't follow me blindly...
Learn to identify such opportunities yourself independently...!🙂
Cheers & best wishes...!!!
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