Market (Read boss) is always right, no matter how illogical he/she may sound. Never fight with the market. The price on the screen should be the guide, and not the price in your mind. Always have healthy respect for the market and never keep your focus away from the goal – TRADE WELL.
Markets can do crazy things at times and the only self defense a trader can employ – Discipline. Remember, it is the discipline and passion for markets that keeps trader in the market for long run. The moment you lose discipline or passion for markets – you are done.
Gujarat election results today and Adani group of stock will be favorite among traders. Modi win will boost the stocks in intital phase of market and they may see some profit booking at later half of session as these stock have seen a good run up.
Adani Enterprises stock has broken its resistance of 280 and is heading towards 300 and 320 where next level of supply would be coming.
Buy above 295 Tgt 297,300,306 and 315
Sell below 289 Tgt 285,282 and 275
Adani Port has seen a spectacular rise from 130-146. Stock broken its channel on upside and is now facing resistance at 146, Break of same can lead to 152 odd levels.
Buy above 147 Tgt 149,152 and 156
Sell below 144 Tgt 142.2,140 and 138
Another Adani stock which is on bull run from low of 46 to 68. Stock is at its top of channel and able to break 68 can see it back to 74 odd levels.
Buy above 69 TGt 70.3,72 and 74.5
Sell below 67 Tgt 65,64 and 62