Adani power may move upto target(shown in graph). Wedge pattern breakout done already. Descending channel breakout may happen upcoming days. Both pattern shows same target only.
AdaniPower is retesting the two year neckline, after an year long double top move.Probably going for a double bottom, if it can hold the neck.Awaiting a breakdown/reversal depending on the color of the nifty.
It is been observed on the hourly chart that the price action is trending up by forming higher highs and higher lows. Now, it shall further move up from current levels if the trend sustains.
Target 1: 34.50
Target 2: 35.50