Adaniports NSE Stock Candlestick Charts Technical Analysis

ADANIPORTS AND SPECIAL ECONOMIC ZONE LTD is India’s largest port company.

For investing in any stocks,you need to look at large picture before adding it to your portfolio.
We look at larger time frames like quarterly and monthly charts before taking a decision.So below is a look at quarterly time frame chart.

 

 

Adaniports Quarterly Chart Analysis

 

ADANIPORTS-Quarterly-Time-Frame-Chart-Analysis

 

The quarterly charts  gives us a fair idea that this stock is in correction mode.Current price levels can be described as retail price levels.

You need to buy stocks at wholesale price levels and sell at retail price levels to other retail traders.This is what big institutional traders do.For better understanding of wholesale levels and retail levels look at simple diagram below.

 

stock-market-wholesale-and-retail-price-level-explanation

Quarterly time frame support levels

Below you can see that current price levels of Adaniports is in previous resistance became support level.Break of this level can led to further downside movement in.

 

ADANIPORTS-Quarterly-Time-Frame-Chart-Previous-Resistance-Became-Support-Level

Fibonacci retracement levels of adaniports as per quarterly time frame

We use fib retracement levels to check strong support areas or levels till which a stock can correct itself.

 

ADANIPORTS-Quarterly-Time-Frame-Chart-Fibonacci-Retracement-Analysis

 

Fibonacci retracement levels of 50% and 38.2% is being tested right now.

If it stays above these levels,we might see its prices going further up making new highs.

Adaniports Monthly Chart Analysis

Again in monthly time frame it’s in correction mode,but taking support from previous resistance became support zone.

Monthly Trend Analysis using trend lines

Its in neat and clean downtrend in progress now.On 28th March 2018 we confirmed monthly downtrend in Adaniports using trendline analysis.

 

ADANIPORTS-Monthly-Time-Frame-Chart-Trendline-Analysis

Weekly Time Frame chart analysis

Its in continues downtrend and making lower highs with lower lows.So till it makes higher high and higher low,we should be little cautious in buying Adaniports stock.

 

ADANIPORTS-Weekly-Time-Frame-Chart-Swing-Trend-Analysis

Adaniports Buy Or Sell ??

Its clearly a wait and watch period in Adaniports based on our technical analysis.Still there is no strong signal to buy.So any individual looking to buy Adaniports should keep a stop loss of 316.55 which is current month’s low.

Conclusion:

Adaniports is now in correction mode and we never know till what price level it can correct.A smart trader and investor should use shorting opportunities in Adaniports till it gives an uptrend indication.

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