Below is the Downside Target for Adani Enterprises from 2020 to 2023 based on the work of Edson Gould.
The downside targets are:
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1,895.08 (conservative target)
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1,641.76 (mid-range target)
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1,388.43 (extreme target)
Based on the wide disparity between the current closing price of 3,388.95 and the 1,895.08 level, we’d be satisfied with the conservative target being achieved. However, our experience has been that the increase of this nature over such a short period of time may take the price far lower than what is indicated on the chart.