Adani Power Ltd.
Yagnesh Patel 
Adani Power Ltd. stock analysis by Yagnesh Patel
Adani Power Ltd.
- The stock has been our radar since couple of weeks & it has demonstrated strong upside momentum accompanied by significant trading volumes.
- Importantly, this momentum is emerging from bottom levels, which is a positive indicator of potential trend reversal and investor confidence.
- A bullish MACD crossover has occurred on the daily chart, and it is positioned above the zero line. This is a robust technical signal suggesting a likely upward movement in the stock price.
- The Fibonacci retracement level of 61.8% is positioned near the ₹500 mark. The stock has been testing and attempting to take support at this level, reinforcing the possibility of a price reversal from these levels.
- The stock has consecutively closed below its previous day’s close for 7-8 trading sessions. Historically, such patterns often precede a reversal, particularly after extended periods of downside pressure.
Conclusion: We are expecting stock price may go up side from here cmp – 501 levels
Important Resistance: 526 – 543 – 571
Important Support: 498 – 481 – 436
Analyst: Yagnesh Patel
Telegram Channel: Click Here
SEBI Registered Research Analyst
Registration Number: INH000016320
Email: support@yagneshpatel.in
Disclaimer-
I’m SEBI Registered RA. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Analyst Certification: The Analyst certify (ies) that the views expressed herein accurately reflect his (their) personal view(s) about the subject security (ies) and issuer(s) and that no part of his (their) compensation was, is or will be directly or indirectly related to the specific recommendation(s) or views contained in this research report.
SEBI registered RA number INH000016320.
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