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Mentorship

Mentorship

Adani Power

6 Jul 202101:22 AM

Ok, I get the animosity over these stocks, but anyone delving into them should be aware of how bubble stocks end. They end in crazy crashes after crazy advances. The exit strategy is everything. But on the other hand bubble stocks never top out before the stock market itself so I sense this decline could logically be temporary unless the Adani bubble has popped stand alone on Governance issues. Frankly, we do not know that either.

So for the sake of it let's look at the tape action so far. A 5 wave advance as discussed, "5=1 at 167 done " was discussed in my last post so this is normal so far. After 5 waves up in wave 1 you get wave 2 down. Corrections are a guess on time and a calculation on Price. Price-wise a-b-c down from the top to 61.8% at 85 is normal. The wave IV low is at 90.80 as the interim support. I will wait to see if prices are stable after a-b-c down, and hopefully, the air clears up as well. c=a is normal but sometimes wave c can extend too so an actual reversal in price has to happen.

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