Whenever a Stock falls because of some negative mews that is not considered as the actual fall. Talking about adani falling from 4100 levels to 1100 levels is INSANE because this fall happened in 2 weeks and stock hit 61% retracement level which is considered as a stop of more fall in short if we say.

Fibonacci Doesn’t tell you that from this level you will insane reversal not at all but it tells that from this level a bounce can come and same can happen in coming days.

Adani ENT formed hammer candle on daily chart which is also a sign of reversal. Now choosing the segment make you a good trader. At this level i will prefer selling puts because in puts IV is high and premiums are more if adani will consolidate here we will get theta and IV skew. For mid term i will buy in CASH and start accumulating as it is a good level for mid term.

If you do option buying then you SL will be huge and you cannot control your emotions. It is always suggested to new traders avoid news based stocks and high volatile stocks.

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