Wednesday, October 9, 2013

#34 Stock Update: New Morning for Adani Power

Our new recommendation for Multibagger is ADANIPOWER. I know stock has been in down trend since a life time high of 144 but now i am witnessing some accumulation on the weakly chart around 32-34 levels and Volumes are way above avg volumes. Technically on daily chart indicators have turned Super Bullish and stock is comfortably trading above all short term moving averages. A resistance line is around 35 which could act as a miniature breaker but the bull power since to over come it. On weekly chart currently candlestick pattern 'morning star' is in formation and for risk taker its a good time currently to go long for long term.

Our Recommendation: GO Long for risk takers and safe traders above 35 with tgts of 47/55 

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