Adani Power getting ready for another half century (50%)?

Aug 25

Adani Power has been in Wave iv since 3rd June’24 which could have likely gotten over with its final dip on 12th August’24. If that’s the case, where is it heading to after it breaks out from the current range? One way to look at it could be a target to the top of the channel (as seen in the chart) i.e. 1300+.

The other way is of course 5 small waves of Wave V which could culminate around 1050 (>50% from current levels of 675). Once, it moves over 800, it will leave more visuals of a target. However, a 50% plus rise from here is imminent? in 6 months?

And yes high volume also has left good hints of strong accumulation including promoter buying.

This is not a trade recommendation. Please do your own due diligence. Remember nothing in the markets is a given. Keep a close watch.

Oct 18

Trade active

Let’s call 580 to 620 as buying range. Wave iv continues. Will reassess target of Wave 5 once it crosses 675.