In the previous session, the Nifty Index closed with a net loss of 128.80 points. Due to global weakness the Nifty index saw a gap down opening in the morning and extended losses as the day progressed.  However, in the last trading hour we have seen some recovery in the Nifty Index. Technically, the Index formed a Doji candle on the chart. The market has been showing a stock specific movement. Hence, the selective stock approach method is advisable for the next trading day.

Look at the below research report of ‘Stocks to Buy for – Friday, November 11, 2021’ before the market opens.

Adani Ports & Special Economic Zone Ltd

In the daily time frame, ADAIPORTS share prices are moving in the form of Impulse wave pattern. As per Elliott wave theory, there is a clear impulse rise as shown on the daily chart and the stock is currently moving in the form of wave 5.We have plotted Parabolic SAR on the chart. The Parabolic dots are moving below the prices which indicates that stock is now in uptrend. This indicator is most useful in terms of Entry and Exit levels in any stocks for trading purposes.

In short, ADANIPORTS looks to be at a support level with bullish up move expectations. Positions can be created around CMP levels, which can take prices towards 925 level. On the other side, the level of 780 will act as key support for the stock.

Check More Analysis on ADANIPORTS at: Adani Ports & Special Economic Zone Ltd