AdaniPorts tested with Elliot Wave and big breakout yet to happ

ADANIPORTS
On this stock Elliot wave theory applied and try to find a big move within this stock and what I found till date

** Wave 1 already completed and Wave 2 also with respect of Fibonacci retracement levels .

** On wave 1 we can see a impulse wave with leading diagonal formation pattern and clearly match with Fibo levels in shorter degree waves also.
** On wave 2 also match with Fibo levels and its show zigzag type corrective wave.

** As we know mostly Stock and Forex have the biggest wave is 3rd wave which about to happen, So I am using Fibo levels for Wave 3 predictions which has to be 1.236-161.8% within this range mostly, which is around 405-469 zone but I preferred 450-60 for Wave 3 high.

** Now when and how we should entered in this Wave 3 ?
Ans: After breakout above wave 1 high which is 368 approx

** What will be our Target area ?
Ans: 25% should booked at 405 and afterwards 460 for rest if the 75% positions.

** Where we should put our Stop ?
Ans: Biggest challenge is going to be this one putting a stop this trade a fair stop should be 327-338 zone for out of this trade.

Note: Risk is completely yours, this trade can take longer time to complete.

Zlecenie aktywne:

Entry : Above 370 closing basis
Target : 405/455-60 Zone approx
Stop : 327-338 Zone approx