Adani Enterprices Can Show 584-692 in Medium Term – EW Analysis on 30 Nov 2014

| November 30, 2014

Adani Enterprices are showing the possibilities of 584-692 in medium term. I was seeing Adani Enterprices charts as one of my client requested so. Long term Chart of Adani looks overlapped but medium tern chart seems interesting. Let me show you the chart.

Elliott Wave Analysis of Adani Enterprices

Elliott Wave Analysis of Adani Enterprices

This is daily time bar chart of Adani Enteprices covering move after 2013 low of126. It seems wave 3 completed at 583 followed by wave 4 completed at 409 and wave 5 is in progress. Wave 3 is more than 161% of wave 1 thus extended. And it seems inner waves 1 and 2 of 5 are completed and 3 of 5 started which is expected to be faster.

If I am right at identifying waves then Adani Eneterprises have capability to go till 584-692 in medium term. One can take small risk of 25 points to buy Adani with Stoploss 432.7 in hope of 584-692 in medium term. This analysis is only for Long Term and only for investment purpose.

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Category: Stocks

About the Author ()

Deepak Kumar is an independent Technical Analyst, regular practitioner and Trainer of Elliott wave theory applying Elliott's Wave Principles on Indian Markets successfully since 2011 and made many accurate predictions. He is also the author of book "Practical Application of Elliott's Wave Principles by Deepak Kumar"

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