Mar 1, 2017

Chart Of The Day : ADANI ENTERPRISES LTD Buy/Sell/Hold? Short - Mid Term View 1 March 2017 For Trading Positional Technical Analysis Recommendation

Adani Enterprises Ltd.
Recommendatino : Buy
View : Short to Mid Term
Strategy : SL and Buy on Dips both
CMP : bse cash 98.50

Commentary :
The stock has come back to 100 levels after 2 years of consolidation.

The major problem with the stock's drastic under performance was the huge debt the group holding company is carrying, which it still is and the nature of business it was in, which was commodity heavy. However recently the company is looking at better prospects in its commodity (coal mining business) as well as the group is gaining renewed momentum in its profitability due to the fruits that it has started to earn in its ports (only listed port on Indian Exchanges) and gas distribution businesses which is an outperforming sector and likely to do better in coming years as well.

In last quarter, the company reported a profit which is also a good sign. If someone wants to trade, it is recommendable for short to medium term.

The stock has still not made a position where we recommend to buy for long term investment or for persons who are investing for serious assured returns. This at this stage is a short term swing call.
Technically, the stock is looking ripe for good move up to 150 due to the way it moved up in November 2016 and stayed up on monthly chart since then.

A fast run up above 130 will take the stock to a new bull territory, albeit short term, which must be kept in mind. And profit must be booked at higher levels.
RSI and MACD as well as major Averages picture is also favorable to the stock price movement.

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