Reasons behind sharp falling of adani shares? What can be the next move?

On 12th June,2021 Sucheta Dalal tweets "Another scandal hard to prove outside the black box of information available with SEBI tracking systems is the return of an operator of the past who is relentlessly rigging prices of one group. All through foreign entities! His speciality & that of a former FM. Nothing changes!"

In which she indicate toward another scam said that there is an operator entry in a share which is moving share price through foreign groups or entities, but she didn't mentioned any name.

After this tweet people start relating this tweet with adani group shares as there is high upward movement from last few days and there is FPI's holding too in adani shares.

Then on Monday 14th June,2021 before opening of market a news came and stated that "Accounts of 3 FPIs owning Adani Group shares frozen" and this was the moment people get to know that tweet was for adani group only and when market opens at 09:15 AM all stocks of adani group opens at lower circuit.

That news and lower circuit opening of shares panicked investors and traders, this was both the fear and opportunity for people and the people who believed in adani shares start buying in some fundamentally strong shares results in upward movement in some shares i.e. Adanient, AdaniPorts.

Then after 2 pm on same day adani management clarify about frozen accounts and said "Adani Group says no freeze on accounts of three foreign investors".

After this clarification people start more buying and share price of AdaniEnt, AdaniPorts and AdaniGreen start recovering but still AGTL,AdaniTrans, and ADANIPOWER weren't able to break there lower circuits.

WHAT CAN BE THE NEXT MOVEMENT IN ADANI SHARES?

After these all issues "Analysts say till there is more clarity on the issue and clarification, if any, from the company, investors should remain cautious and refrain from making any fresh investment in the related stocks."

But if talk about market/people sentiments today(15/06/2021) ADANIENT is 2.49% up So, we can conclude that people are just waiting for good buying opportunities and hence shares can show uptrend again in next few weeks.