ADANIENT

Fundamental View- Adani Enterprises Ltd. (AEL) is the flagship holding company of the Adani Group, operating across sectors including mining, airports, roads, rail, solar manufacturing, green hydrogen, data centers, real estate, and defense. Technical View- As seen on the chart, strong buying has been witnessed in the stock over the past two weeks. Following the ceasefire agreement between Israel and Iran, all Adani Group stocks showed a positive trend, with Adani Enterprises leading the rally. The entire last week proved to be very favorable for the stock, with significant buying momentum. On 23rd June, the stock made a low of ₹2435.00, touched a high of ₹2492.60, and closed at ₹2472.00. After that, the stock opened with a gap-up and continued making higher highs. On the weekly chart, the stock is seen taking strong support at its 14-day EMA. Last week, the stock opened at ₹2438.00, made a low of ₹2435.00, a high of ₹2681.60, and closed at ₹2646.30. Notably, on 8th June, the stock had made a high of ₹2662.00, and last week, it surpassed that by touching ₹2681.60 and closing above its 55-day EMA. Technical indicators like RSI and MACD on the weekly chart are also indicating strong buying momentum. From both short-term and long-term perspectives, this stock looks favorable to be added to one's portfolio, with ₹2400 acting as a strong support zone. A "buy on dip" strategy can be considered for entry. In my opinion, if this positive momentum continues, the stock is likely to touch ₹3000 levels in the near term. Warning- ***** ***** ***** *****