indiamarketoutlook
Long

Adani Power: Is it on the verge of big breakout....???

NSE:ADANIPOWER   ADANI POWER LTD
Adani Power
CMP 34.25

The story of Adani Power is no different from Rpower ... trading near all time lows... all while Nifty index is at all time highs

However, there are some positive signs on the chart that draws attention...

- we observe higher bottom higher tops on daily charts

- meaningful crossover of 20 day EMA above 50 day EMA

- recovery seen from retest of 50 day EMA after crossover

- a close above its final hurdle zone 36.5-37.2 level and the stock could be rushing towards 50 levels

Support at 31.80 / 29 odd levels

Definitely has to be a stock to watch out for in coming days...!!!

Take care & happy trading...!!!
Comment: Looking at Adani Power on a longer time horizon on weekly charts

Comment: As per Fibonacci Retracement Has the potential for 98 / 116 in 2-3 years



Take care & happy investing...!!!
Trade active: Adani Power at support

Comment: cmp 33.80
Trade active: From 33.80 to 35

That's a nice 3.5 % movement for the day...
Trade active: After respecting 36.5- 37.20 zone once, Adani Power has finally Crossed the resistance zone today....

Next target 50 odd levels in 2018...!!!

Going forward, it needs to Sustain above 36.50

Take care & happy investing...!!!
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