Trade Idea of The Day - Adani Ports & Special Economic Zone Ltd Target Rs.35 - Religare Broking Ltd
Adani Ports & Special Economic Zone Ltd
BUY 27 OCT 1800 CALL SELL 27 OCT 1860 CALL Entry Range 16 – 19 Target 35 Stop Loss 10
Rationale
• ADANIPORTS has maintained a positive structure on the daily chart, with the stock sustaining above its key moving averages. The current price action with higher bottom structure, indicating a supportive trend setup.
• From a technical perspective, the stock has been consolidating near the 1,800 zone after recovering sharply from the September low. Sustaining above 1,760-1,750 can keep the broader bullish structure intact, while a decisive breakout above 1,800 may trigger fresh upward momentum.
• The 14-Day RSI is hovering above the 50 mark without entering the overbought zone, leaving room for further upside. The MACD also continues to indicate a constructive setup, although momentum has moderated slightly in recent sessions. Overall, the bias remains bullish above 1,750, with the 1,900 zone acting as the hurdle zone.
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ00017433
