NSE:ADANIENT Sell for 30 Oct 2018NSE:ADANIENT 30 min chart and Fibonacci series initiate following sell for 30 Oct intra-day
Sell Below :170.55
Stop Loss : 173.05
Target : 169.55
ADANIENT trade ideas
Adani Enterprises can move further downNSE:ADANIENT CLSA has downgraded its rating on Adani Enterprises BSE -1.43 % to 'sell' from 'underperform' due to continued margin pressures in its mainstay coal trading business and potential write-down at its Carmichael coal venture.
"Coal trading Ebitda for 1Q was less than US$1/t (Rs60/t) - down 76% YoY, with segment profit at three-year lows. ADE (Adani Enterprises) expects that the coal import volumes will not collapse as feared, due to cost benefits for customers near coastal areas ..
One can expect a Accelerated downward movement towards 68 levels before any support comes in and any weakness further from 68 can results in swift movement towards 60 levels
ADANI ENTERPRISES SELL SETUPSO FAR SO GOOD KEEP YOUR EYES ON DIS TRADE SETUP ONCE TREND LINE BROKEN WE TAKE SHORT ENTRY IN THIS STOCK. SELL ONLY IF TREND LINE BROKEN .THERE IS THREE TARGETS WHICH MENTION ON CHART.
HIT LIKE IF YOU AGREE WITH MY PLAN AND YEAH FOLLOW ME FOR MORE UPDATES AND IDEAS.
TRADE WITH CARE
REGARDS
KING999
