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Adani Ports - 21st August 2016

Discussion in 'Chart of the Week' started by shabbir, Aug 21, 2016.

  1. shabbir

    shabbir Administrator Staff Member

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    Adani ports weekly chart looks really good with a perfect W being formed and then a breakout.

    AdaniPorts.png
    Charts by TradingView

    Rock solid support at 170 and breakout above 270.

    What do you make out of this pattern?
     
    Last edited: Aug 22, 2016
    shabbir, Aug 21, 2016
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  2. Suresh_Sinha

    Suresh_Sinha Active Member

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    This is awesome initiative Shabbir and I just love it.
     
    Suresh_Sinha, Aug 22, 2016
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  3. shabbir

    shabbir Administrator Staff Member

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    Glad you liked it.
     
    shabbir, Aug 22, 2016
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  4. kapil_jadhav

    kapil_jadhav New Member

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    Sir , Adani Ports has recently given a breakout as you have mentioned and it is lying just above a Drop base drop supply zone of 260.1 - 268.3 . As long as price stays above this band it is positive for Adani Ports. One may enter on a retracement and can target the next supply zone 325-331 . A potential 20% trade . Posting the chart
    https://kite.zerodha.com/share/HXTTG0MLDG.png
     
    kapil_jadhav, Aug 22, 2016
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  5. shabbir

    shabbir Administrator Staff Member

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    Agree but not sure about 20%
     
    shabbir, Aug 22, 2016
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  6. sainathreddy4

    sainathreddy4 New Member

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    Hi shabbir,
    thanks for sharing the chart. its a wonderful idea. can we have a target of 300ish for this ?
     
    sainathreddy4, Aug 22, 2016
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  7. brinair

    brinair New Member

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    Sir, A slightly pessimistic view. There is resistance at 270-280 zone (2008 Jan and 2014 December). You can see the volumes dropping in the last week. The RSI has hit 80 and has started going down. Is there a case for retracement back to 240-250 region? There is a Gap at 242.

    Disclosure: I am NOT trading this scrip. I am just a beginner and doing my own basic TA. Looking forward to guidance from SB sir and other seniors.
     
    brinair, Aug 22, 2016
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  8. shabbir

    shabbir Administrator Staff Member

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    I will keep that to the users as the idea is to learn the patterns and create support and resistance as well as calculate roi. With 170 as SL, your ROI because too steep for any targets and so it is no trade zone as of now.

    GAP means good support around that levels.
     
    shabbir, Aug 22, 2016
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  9. virudjoshi

    virudjoshi New Member

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    Dear Shabbir,
    This is a very good initiative and lot of applauds for taking it... Indian retail investors have a long way to go and such steps from you will help at least the people who are following you...
     
    virudjoshi, Aug 29, 2016
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  10. shabbir

    shabbir Administrator Staff Member

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    Glad you like them.
     
    shabbir, Aug 29, 2016
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