$ADANIPOWER: The Forgotten Fuse Just LitADANIPOWER has broken out of a long compression structure and is now pressing into the upper measured-move zone.
The major pattern target is sitting near 298.55.
That is the level I’m treating as the final target of this current structure.
What makes this move interesting is the angle of ascent.
Since the March breakout, price has not been grinding upward politely; it has been repricing vertically.
If the same slope holds, the 298-300 zone could be tested by Mid to early June.
Legal overhang is fading fast
Recent US legal developments have reduced a major cloud over the Adani group, forcing investors to reassess the “too risky to touch” discount. AP reported prosecutors moved to drop fraud charges against Gautam Adani.
The group looks under-owned
Bernstein reportedly noted that many global funds stayed away pending US-related clarity, leaving Adani names under-owned despite execution. That creates the classic catch-up setup when sentiment flips. Source: Upstox
AI/data-centre power demand is becoming a new narrative
Adani’s energy businesses are being viewed as an India AI infrastructure proxy, helped by data-centre power demand and green-powered infrastructure plans. Bloomberg linked this theme to recent strength across Adani energy stocks.
Adani Power has real operating momentum
The company has highlighted strong profitability, healthy cash flows, capacity expansion and long-term PPA tie-ups, with expansion projects scheduled across FY27-FY29. Source: Adani Power Q2 FY26 release
Technicals are catching people offsides
Price has already broken above prior resistance zones, and a lot of traders are still anchored to the old Adani discount story. That combination can create violent short-covering and FOMO buying, especially when options OI is clustered around nearby strikes. 
Long
Adani Power Showing Signs of Strength After Key EMA BounceNSE:ADANIPOWER has recently found support near its 20-day EMA on the daily timeframe, indicating that the ongoing bullish trend remains intact and that the stock may be preparing for its next leg higher.
Adding to the positive setup, the sectoral benchmark, NSE:CNXENERGY , has also taken support at its 20-day EMA on the daily chart, providing further confirmation of strength across the energy sector and supporting the top-down approach .
The Weekly RSI (14) stands at 74.45, remaining above the 70 mark and reflecting strong bullish momentum. On the daily timeframe, the RSI has consistently found support around the 60 zone, suggesting a bullish range shift and reinforcing the prevailing uptrend. The stock is also trading at a rising short-term trendline support , which further strengthens the bullish structure.
Historically, the 20-day EMA has acted as a reliable dynamic support level for the stock , with previous pullbacks to this moving average often followed by fresh upward moves. In addition, the 20-day, 50-day, and 200-day EMAs continue to slope upward , highlighting the strength of the broader trend.
As long as the stock sustains above ₹225, NSE:ADANIPOWER could potentially retest its previous all-time high of ₹254.20 and extend the rally further. At the current price of ₹232.52, the setup offers an attractive reward-to-risk ratio of approximately 3:1 , with a stop-loss placed at ₹225 on daily closing basis and an initial upside objective near ₹252.
Key Support Levels: ₹229.50, ₹227, ₹225
Targets: ₹252, ₹260, ₹270
Disclaimer:
Investments in the securities market are subject to market risks, read all related documents carefully before investing. Securities quoted here are exemplary, not recommendatory. I am not a SEBI registered financial advisor, please consult your financial advisor before investing. Please note that I do not guarantee any assured returns for the securities quoted here.
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Hari Narayan N
Chartered Market Technician (CMT – All 3 Levels Cleared) Long 
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Can a Corporate Titan Withstand the Tremors of Allegations?In the high-stakes arena of global business, few narratives captivate the imagination quite like the meteoric rise and sudden turbulence of an economic powerhouse. The Adani Group once celebrated as a paragon of Indian entrepreneurial success, now finds itself navigating treacherous waters of legal scrutiny and market skepticism. What began as a remarkable journey of a diamond trader turned infrastructure magnate has transformed into a complex tale of ambition, power, and potential corporate misconduct that challenges our understanding of success in the modern economic landscape.
The allegations against Gautam Adani—ranging from securities fraud to a purported massive bribery scheme—represent more than just a corporate challenge; they symbolize a pivotal moment of reckoning for corporate governance in emerging markets. With U.S. prosecutors indicting Adani and a damaging report by Hindenburg Research accusing the group of "the largest con in corporate history," the conglomerate has witnessed a staggering $68 billion evaporation of market value. This precipitous fall from grace serves as a stark reminder that even the most seemingly invincible corporate empires can be vulnerable to the harsh light of forensic scrutiny and legal investigation.
The unfolding saga transcends the individual narrative of Gautam Adani, touching upon broader themes of economic development, political connections, and the delicate balance between entrepreneurial ambition and ethical conduct. As the Adani Group confronts these unprecedented challenges, the world watches with bated breath, understanding that the outcome will not merely determine the fate of one business empire, but potentially reshape perceptions of India's economic credibility on the global stage. The resilience, transparency, and response of the Adani Group in the face of these allegations will serve as a critical case study in corporate accountability and the complex interplay between business, politics, and regulatory oversight.
Ultimately, this narrative invites us to reflect on the fundamental principles of corporate integrity and the thin line between visionary entrepreneurship and potential systemic manipulation. As investors, policymakers, and global observers, we are compelled to ask: Can reputation, built over decades, withstand the seismic tremors of serious allegations? The Adani Group's journey offers a compelling, real-time exploration of this profound question, challenging our assumptions about success, power, and the intricate mechanisms that govern global business ecosystems. Short 
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