Stock pulling up socks for ATH
ADANI POWER CMP 549.7
At the retest level of Bullish Pennant
Respected rising20 EMA
Above 580 will be ready for a new ride
Invalid below 538
The Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart).
Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only...
Since the secret news about ADANI GROUP came in media all the Adani stocks fell very strong within span of 2 weeks, we have seen and learnt from the past that whatever may be the news at some point that has to end and thus now ADANI POWER seems to have reached near the previous zone from where it flew that was 142 , so we can now start accumulating this stock in...
India’s largest private thermal power producer with installed capacity of 13,650 MW.
Fundamental Aspects:
In 11 years
Reserves increased 5 times,
Sales increased almost 18 times,
Net profit increased 20 times,
Huge CAPEX for future expansion &
Promoters holding is good 74.97%.
The only concerning parameter is the debt to equity ratio, which is staggering 1.87.
If...
Adani power is sustaining 240-345 levels from the past few trading sessions, stock prices also look good on the daily and weekly timeframe.
Hance sustaining 340 levels, the stock could move towards 355 - 360 levels in the coming trading session.
Type of Trade: Swing Trade
Buy on the dip and build up on the way up.
CMP: 348
Buying zone 345-344
Stop loss below...
NSE:ADANIPOWER
Adani power near its major resistance level spending too much time on lucratively lower volume compare to its past up move.
I will get interested only if stock manage to give any closing above 41.6 on daily chart.
