Adani Power shares cross Rs 200 mark, overbought on charts; 'buy' for more upside?

Adani Power stock price today: Shares of Adani Power crossed the Rs 200 mark in early deals today, hitting their record high for the sixth straight session. Adani Power shares rose 3.45% to hit a record high of Rs 205.25 today against the previous close of Rs 198.40. Market cap of the firm climbed to Rs 3.95 lakh crore. A total of 22.27 lakh shares of the firm changed hands amounting to a turnover of Rs 44.95 crore on BSE.

The multibagger stock has gained 420% in three years and zoomed 1074% in five years. The strong rally in the Adani Power stock has been accompanied by high volatility in a year, signals its one year beta of 1.34. 

In terms of technicals, the Adani Group stock is trading higher than the 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages. 

The Adani Group stock is strongly overbought on charts with a RSI of 86.2, signalling there are more buyers than sellers for the stock. 

Adani Power stock price targets

Jigar S Patel from Anand Rathi is bullish on outlook of the Adani Power stock. "A decisive breakout above Rs 205 could open the door for further upside towards Rs 210. For the short term, the stock is expected to trade within the Rs 182–Rs 210 range," said Patel. 

Virat Jagad Sr. Technical Research Analyst at Bonanza Portfolio said, Adani Power is exhibiting a robust breakout from a clear cup-and-handle pattern, surging past the critical resistance at Rs 180. This move is validated by an exceptional volume spike, indicating strong institutional accumulation. While the RSI at 86 signals overbought conditions, the trend structure remains firmly bullish. A sustained trading above Rs 180 could propel the stock toward a short-term target of Rs 215–220. Stop loss can be fiexed at Rs 183. 

Shitij Gandhi, AVP - Equity Technical Research, SMC Global Securities said, "Adani Power’s short-term setup remains firmly bullish following the decisive breakout above the Rs 180 supply zone. The sharp price expansion, supported by strong candle bodies and positive moving average alignment, indicates sustained buying interest rather than a mere breakout spike. In the near term, the stock may witness a brief consolidation or minor pullback after the steep rally; however, dips towards Rs 190–Rs 185 are likely to attract fresh buying. The breakout zone at Rs 180 now acts as a critical positional support, and holding above this level keeps the bullish structure intact. The trend favors a 'buy on dip' approach with a positive near-term outlook."

The Adani Group stock is in a bull run since February 2026 when it incorporated a new subsidiary, Adani Atomic Energy Ltd (AAEL), marking its entry into the nuclear energy sector. The company's objective is to generate electricity from nuclear sources, indicating a move into clean energy expansion. 

Reacting to the move, brokerage Bernstein listed Adani power as one of the key beneficiaries of India's nuclear programme. Other firms it mentioned were L&T, MTAR Tech, KSB, NTPC and Tata Power. The company has a low debt to equity ratio of 0.3. 

Adani Power Q3 earnings

In Q3, net profit fell 18.89 per cent year-on-year (YoY) to Rs 2,479.58 crore compared with Rs 3,057.21 crore in the corresponding quarter last year. On a sequential basis, net profit fell 16.03 per cent from Rs 2,952.78 crore. Revenue from operations fell 8.92 per cent YoY to Rs 12,451.44 crore from Rs 13,671.18 crore. On a quarter-on-quarter (QoQ) basis, revenue fell 7.47 per cent from Rs 13,456.84 crore.