ADANIPORTS : LOOKING FOR A POTENTIAL BOUNCE!

🚀 ADANIPORTS Trade Idea - Daily Chart 📈

Looking for a potential bounce!

1. []🛡️ Price: Around 1128 INR (currently) - Consider scaling in if it reaches the "Target at Wave C (intermediate wave)" zone of 1051-1094 INR.
   []🎯 Target 1: 1341-1372 INR (Wave C target zone)
   []🎯 Target 2: 1474 INR (Second Target)
   []🛑 Stop-Loss: Day close below 1051 INR
   

🤔 Why this trade?

✅ Extended retracement suggests potential support/reversal zone.✅ Approaching Wave C target zone - potential strong support.✅ Potential for a good Risk/Reward.

💡 Pro Tip: The chart highlights a "New demand Zone at extended retracement zone" and a "Retracement zone for Wave B." If the price dips further, watch for strong buying volume or bullish candlestick patterns within the 1051-1094 INR zone as confirmation of a reversal before entering. Consider using a smaller initial position size and adding to it if the price shows strength within the zone.

⚠️ Risk/Reward Calculation (Example - You MUST calculate your own based on YOUR entry):

Let's assume entry at 1072 INR (midpoint of the Wave C target zone) and the defined stop-loss of 1051 INR:

1. []Potential Gain (Target 1 - using midpoint): 1356 - 1072 = 284 INR
   []Potential Loss: 1072 - 1051 = 21 INR
   []Risk/Reward Ratio (Target 1): 284 / 21 = Approximately 13.5:1
   []Potential Gain (Target 2): 1474 - 1072 = 402 INR
   
2. Risk/Reward Ratio (Target 2): 402 / 21 = Approximately 19.1:1
   

🙏 Important:

⚠️ This is just an idea, not financial advice.😟 Trading has risks – you could lose money.🧐 Do your own research before making any trades.