Adani Enterprices are showing the possibilities of 584-692 in medium term. I was seeing Adani Enterprices charts as one of my client requested so. Long term Chart of Adani looks overlapped but medium tern chart seems interesting. Let me show you the chart.

Elliott Wave Analysis of Adani Enterprices
Elliott Wave Analysis of Adani Enterprices

This is daily time bar chart of Adani Enteprices covering move after 2013 low of126. It seems wave 3 completed at 583 followed by wave 4 completed at 409 and wave 5 is in progress. Wave 3 is more than 161% of wave 1 thus extended. And it seems inner waves 1 and 2 of 5 are completed and 3 of 5 started which is expected to be faster.

If I am right at identifying waves then Adani Eneterprises have capability to go till 584-692 in medium term. One can take small risk of 25 points to buy Adani with Stoploss 432.7 in hope of 584-692 in medium term. This analysis is only for Long Term and only for investment purpose.

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