Given how bearish the overall market has been, I was already leaning towards weakness in Adani Energy Solutions, especially with the Energy sector down over 5% last week.
+ Adani stocks always fall hard when the market turns bearish.
On Friday, the stock was sitting right near a key support zone and the price action didn’t look convincing at all. I was expecting those levels to break.
Currently in an intraday short, targeting around ₹918, which is the next support level.
Also noticed similar bearish commentary on the stock in the newsletter, which added to the conviction.
Let’s see if the momentum continues or if buyers step in near lower supports.
