Fact on ADANIPORTS:
1. It is in 4th wave of Elliott wave (weekly chart)
2. It has well respected all fibonacci ratios (retracement as well as extension)
3. Wave 1 was a diagonal and 3 extended to 1.618x of 1.
4. Wave 4 has retraced to 38.2% of wave 3 and making "ABCDE" pattern.
5. Let the pattern complete and investment may be made around 655-665 levels for good targets.
6. Wave 5 targets are taken from 38.2% of wave 3 to 61.8%. (minimum would be 900)
Please support my analysis, if you really liked it please hit the like.
(This is not a trade advice at all.)
Regards
1. It is in 4th wave of Elliott wave (weekly chart)
2. It has well respected all fibonacci ratios (retracement as well as extension)
3. Wave 1 was a diagonal and 3 extended to 1.618x of 1.
4. Wave 4 has retraced to 38.2% of wave 3 and making "ABCDE" pattern.
5. Let the pattern complete and investment may be made around 655-665 levels for good targets.
6. Wave 5 targets are taken from 38.2% of wave 3 to 61.8%. (minimum would be 900)
Please support my analysis, if you really liked it please hit the like.
(This is not a trade advice at all.)
Regards