Adani Port- Elliott Wave Analysis

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 Adani Port daily chart


Analysis

As seen in the above chart, prices are showing strength from the bottom after Hidenburg report. Prices are suppose to comeback and reach towards its crucial resistance first at 720 levels . RSI has also some room to travel back into overbought terrain. 

Wave thoery suggest, that prices are coming up in wave a where there is some more vacuum left which can take towards 80% of the wave c of the previous corrrection placed at 720 levels. Once this leg will be over prices will open corrective wave back in form of wave b and then eventually wave c on the higher side.

The summation is Adani Port can move higher towards 720 levels over short term. 

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