Will this stock turn back? Your take?

[newtrader101]

This seems to be the worst hit in the Adani group.

4 hour chart

Daily chart

Interestingly on 27 May huge volume was bought (30.44 mil) and it rose 179 Rs to 1617. Then it fell. This volume hasn't appeared again. Does that mean they're still holding it.

 

[siddhant4u]

no one other than Adani (promotors ) and retailers hold this stock (3% own by retailers). None of the Mutual Funds have it (unless they are in some index so ETF/Index fund will have exposure). so whatever volume you see is by promotor

 

[mastermind007]

no one other than Adani (promotors ) and retailers hold this stock (3% own by retailers). None of the Mutual Funds have it (unless they are in some index so ETF/Index fund will have exposure). so whatever volume you see is by promotor

Whats the point in listing it then? Gautambhai should simply get it delisted and save on listing fees

 

[siddharth_sarna]

Yes, the Adani Group seems to be the worst hit. The stock might turn back but not in the very near future. Let us wait to see when it turns back.

 

[newtrader101]

See what happened.

 

[newtrader101]

 

[Kanti Ojha]

I was so close to investing in this stock but I’m glad I didn’t. Phew, my friends are stuck though. Hope the situation gets resolved soon.

 

[Kamala Patel]

Can’t really say for sure, it seems to have suffered a terrible fall. Fingers crossed. I feel like I should have stayed away from this one but it’s okay we learn from mistakes.

 

[Lakshmi Kayal]

It looks like a bad hit. We just got to watch the news and wait for it to recover. What do you think? Will it mend sooner?

 

[Aditi Chadda]

Well this was a bad one for all those invested in this stock. But, it's getting better now. We just need to be a little more patient.