Adani Ports Share Price: Buy this share to get HANDSOME returns, Sumeet Bagadia says; put Stop Loss at Rs 682, target price at Rs 785 – Rs 820
Sumeet Bagadia, Executive Director of Choice Broking recommends buying from Adani ports. He said Adani ports should be bought in the spot market in the range of Rs 730 – Rs 736 with a stop loss of Rs 682 and a target of Rs 785 – Rs 820. This stock shows consolidation on technical charts. near the top strip of the symmetrical triangle pattern, suggesting a trip north into the counter.
Additionally, the stock traded above its 21 and 50 day moving average, suggesting that the stock has great potential to continue rising. The momentum indicator RSI (Relative Strength Index) and MACD (Moving Average Convergence Divergence) both showed positive crossover on the daily chart, which adds more optimism to the price. Based on the technical structure above, Bagadia expects bullish movement in Adani ports within a few trading sessions.
See Zee Business Live TV Streaming below:
HSBC sees Adani Ports as a long-term game on India’s trade and infrastructure growth. Improved free cash flow and the unwinding of promoters’ pledges of action should act as positive catalysts. A prolonged outbreak of COVID-19 and an increase in intergroup lending would be the main downside risks for Adani Ports.
Nirali Shah, Head Equity Research, Samco Securities said Markets ended the year on a positive note after a short volatile week, similar to last year. The year has been clouded by extreme pessimism to extreme optimism, especially after a rapid rise from March 20 lows to an all-time high of 15,431 in less than a year.
This celebration around the world was only possible thanks to a multitude of moving factors. From trillions of dollars of stimulus by governments to cuts in interest rates by central banks, these two variables synergistically contributed to the recovery in demand at ground level and led to a gradual economic recovery. . Timely initiatives by the Indian government through various LIP programs for different sectors has instilled confidence in the economy, Shah said.
Not to mention the REITs who since May 20 strongly believe in India’s growth story and have continued to flow into our markets. These combined efforts have succeeded in recording a strong recovery in global and domestic markets, he added.
Nirali said the Nifty 50 index closed positively for the week, however, the market lacks determination in its direction as Nifty after bouncing off its channel’s support is still contained within Tuesday’s trading range and the candle. this week is also within the range of the previous week. The market is actually witnessing a contraction in volatility while the trend of other emerging indices suggests a breakout of upward consolidation.