Adani Enterprises Limited

Lower High Formation – Breakdown Risk Toward ₹1,960? Timeframe: Daily CMP: ₹2,158 Marked Support: ₹1,960 🔴 Structure Breakdown Context The chart clearly shows: • Series of Lower Highs & Lower Lows • Failed breakout attempt near ₹2,300 • Strong rejection candle from supply zone The recent bounce from ₹1,850 was a relief rally, not a trend reversal. Now price is again stalling near ₹2,200–2,250 supply. 🔎 Elliott Wave View Probable structure: Wave A: ₹2,600 → ₹2,100 Wave B: Relief rally to ₹2,450 Wave C: Impulsive decline toward ₹1,850 Recent bounce likely corrective wave within larger downtrend. Current structure suggests next leg down could retest: ➡ ₹1,960 (marked support) ➡ If broken → ₹1,850 again Trend remains bearish until ₹2,350 is reclaimed decisively. 📉 Momentum Insight Observations: ✔ Repeated failure to sustain above ₹2,250 ✔ Selling pressure visible on red candles ✔ No expansion in bullish follow-through This looks like distribution, not accumulation. 📌 AVWAP / Supply Zone Logic Anchored from recent swing high (~₹2,600): Price remains below anchored resistance Every rally facing supply ₹2,250–2,300 is strong supply zone. Until acceptance above that, sellers dominate. ⚠ Risk Map Immediate Support: ₹2,120 Major Support: ₹1,960 Critical Support: ₹1,850 Resistance: ₹2,250 → ₹2,350