All the Adani stocks has seen missive buying in last 2 weeks. Reason could be elections. Almost all the stocks have given breakout, however, I chose this stock due to few reasons.
1. This stock has underperformed in all the Adani stocks
2. Recently they got big money from USA for their business.
3. A very good consolidation for more than a year.
4. Trading above all time high. In blue sky.
5. PE is fairly low (around 34) rather than 80 or 100+ in few Adani stocks.
Hence, this would be a worth of a trade with very good RR. The volume candle also suggesting to go for a trade.
CMP - 1122 (10/12/23)
T - 1350, 1950
SL - 940
1. This stock has underperformed in all the Adani stocks
2. Recently they got big money from USA for their business.
3. A very good consolidation for more than a year.
4. Trading above all time high. In blue sky.
5. PE is fairly low (around 34) rather than 80 or 100+ in few Adani stocks.
Hence, this would be a worth of a trade with very good RR. The volume candle also suggesting to go for a trade.
CMP - 1122 (10/12/23)
T - 1350, 1950
SL - 940