Sunday, June 5, 2022

Two Long Term Stocks From Adani Group

Today we are going to discuss two stocks from Adani Group. Both are at good levels to enter for the long side. As we know Adani Group is very strong and both companies are very strong as per fundamentals. Both stock prices are corrected from the top and now at the support levels. Let's discuss the chart in brief and levels.

ADANI GREEN: On the chart of this stock from January to March price is in consolidation and then it has given a breakout. With that rally, volumes were increased day by day and the price went to 3000 from 1800 within the month. Now again stock price has come into this demand zone and we are expecting a bounce from this level. As price has oversold as per indicator and volumes are increased in last week with a green candle. We are expecting up moves from these levels till 2200/2400 and support is around 1800-1700.

ADANI ENT: This stock has made Double Bottom on the daily chart, we are just waiting for a breakout. This stock also fallen from the top and tested their support of 1900. Made Hammer before a few days, if we look at the volumes it has increased with the price. So we can expect the same that bulls are active and recently the stock price has bounced from its 20 & 50 DMA. We are expecting some dip before breakout but after resistance break, we are expecting levels of 2400+. The overall trend is up and fundamentally company is strong.



Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.

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