Accumulate Adani Ports, target Rs 357: Rupak De

Rupak De

After prolong corrective phase, Adani Ports has been consolidating at lower levels. On the daily chart, we saw the formation of an inverted hammer which suggests the possibility of a bullish reversal. The green candles on the daily chart were backed by decent volume.

Traders can accumulate the stock in the range of Rs 327-332 for the target of Rs 357 and a stop loss below Rs 316.

Disclaimer: The author is a Technical Research Analyst at Bonanza Portfolio Ltd. The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.