Adani Power - one of favourite stocks finally reached breakout level (10 year period) in monthly chart.
Enter around 70 - enjoy the breakout
Initial target can be Rs. 100, There can be some correction or pullback around Rs. 100 as per wave analysis but breakout looks good.
stock is making rounding bottom, volume rising , may break the rounding bottom's neckline .
and stock is near resistance also. it may break the resistance and can move in both intraday and positional long.
buy above 41.92( closing basis) should close strong above the lvl for positional. for intraday - one can look for volumes also in short time frame.
Adani power is showing good strength on charts and ready to break the long time resistance of 41 Rs. If crossed then we can see huge upside from here.
Long term chart also looking bullish.
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.
