rdkriplani

Adani Power - Potential breakout candidate

NSE:ADANIPOWER   ADANI POWER LTD
Power sector in general is starting to look good, Jhunjhunwala in a recent interview on diwali said that a power reforms bill was awaiting approval from the ministry. A strong power reform bill could be a historical tirgger for India. We have been awaiting such a bill since 2010.

Adani Power is on the verge of breaking out. Its crossed its 200EMA and is closing in on its 200WEMA.
A long position can be taken here with a stop loss of 39. 40 .
Would look to double my position whenever the price goes above 42.50.

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