Derivative Pick Adani Power
Adani Power added around 1.00% in open interest as fresh long build up. Bottom out pattern seen in it. Recent low of 28.75 will be a crucial support in it. If unable to breach it then we will see sharp upside rally in it.
Hurdle at 31.00 Break and sustain above 31.00 will take it to 35.00—38.00 and then to 42.00++ mark.
Three consecutive close + weekly close above 42.00 will see upside rally till 45.00++ mark in days to come.
Support and stop loss below 28.75
Trading Recommendation
Option trades can Adani Power 30 CE above 2.00—2.10 with stop loss of 0.50 Target 5.00—7.00
More will update soon !!
