Can I buy Adani Enterprises as it has fallen a lot
AVOID ADANI ENTERPRISES FOR NOW, ENTER ON CLOSE ABOVE RS 156
Adani Enterprises is currently trading at Rs 141.95. Its unadjusted 52-week high/low stand at Rs 236.70/Rs 101.05 made on August 29, 2018 and July 2, 2018, respectively, showing sudden upsurge. However, the stock could not sustain and fell more than 80% of the prior sharp upward move. Meanwhile, it also breached its 100-day and 200day EMA supports. Recently, the volumes are reasonable and the oscillators are lying in the oversold zone. The stock formed a hammer on September 25. Below the current low of Rs 125.65, the stock has a multiple support zone near Rs 104 level. We suggest you to avoid for now.