Adani Energy Solutions Limited

1️⃣ Cup Formation (Rounded Bottom) The green curved structure on your chart shows a rounded bottom / cup pattern. This pattern typically represents: Left side: Distribution and decline Bottom: Accumulation phase Right side: Recovery with increasing demand Now the stock is approaching the neckline resistance zone. 2️⃣ Key Resistance Zone Highlighted resistance zone: ₹1030 – ₹1050 This level has previously acted as multiple rejection points, so it is a supply zone. A strong close above this zone would confirm the breakout. 3️⃣ EMA Structure – Bullish Alignment Current structure: EMA 26: ~₹992 EMA 52: ~₹982 EMA 225: ~₹932 Important signals: Price above all major EMAs 26 EMA > 52 EMA > 225 EMA This is a classic bullish trend alignment. 4️⃣ Measured Move Target Your projection of about ₹231 (~22%) is technically valid. Cup breakout targets usually equal the depth of the cup. Possible target zone: ₹1250 – ₹1280 Which matches your projected move. 5️⃣ Trade Structure Breakout Confirmation Entry above: ₹1050 Possible Targets ₹1120 ₹1180 ₹1250 Risk Level Invalidation if price falls below: ₹960 6️⃣ Institutional Clue Notice how the stock: Held the 225 EMA during the correction Quickly recovered with strong candles This often indicates institutional accumulation rather than distribution. ✅ My View The structure suggests a breakout attempt from a multi-month base. If ₹1050 breaks with volume, the stock can quickly move toward ₹1200+.