``Traders can buy Adani Enterprises on dips to Rs 231 for a target of Rs 255 with a strict stop loss placed below Rs 220 from perspective of 4-5 weeks,`` said Rahul Randeria, technical analyst, IDBI Capital.
"Yesterday, Adani Ent has formed an engulfing bullish candle on the daily charts. The stock is on the verge of the flag pattern breakout. On the oscillator`s front; RSI & MACD are placed with a positive crossover on the daily charts,`` said Randeria.
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