ADANI PORT

Flash News Investment - - YOUR TECHNICAL PORTFOLIO GUIDE -

CMP: ₹433.55

BSE Code: 532921

I am hold­ing shares of Adani Port bought at Rs 420 level. What should I do, hold or book prof­its?

- Ashish Gokhale

HOLD ADANI PORT WITH A STOP LOSS OF RS 410

Adani Port is cur­rently trad­ing at Rs 433.55. Its 52-week high/low stand at Rs 443.35/Rs 2246 made on November 6, 2017 and November 21, 2016, re­spec­tively, which shows an up­trend in the stock. The stock has wit­nessed higher tops and higher bot­toms al­most since Au­gust 2016. The stock’s re­cent rally from Rs 364 level has fetched nearly 21% return on its 52-week/ all-time high level. Hence, go­ing for­ward, the stock may con­sol­i­date or cor­rect fol­lowed by a bounce back. The stock is al­ready in con­sol­i­da­tion mode and if it cor­rects, Rs 424 fol­lowed by Rs 413 would be the sup­port lev­els. Hence, we sug­gest you to hold for now and fol­low a strict stop loss at or be­low Rs 410 level.

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