Adani Power stock: Can wait-and-watch strategy be fruitful?
Adani Power stock rose nearly 3% to Rs 619.80 against the previous close of Rs 602.20 on BSE. Market cap of the firm climbed to Rs 2.33 lakh crore.
- Jul 10, 2025,
- Updated Jul 10, 2025 3:09 PM IST
Shares of Adani Power gained for the fourth straight session amid a correction in the broader market today. Adani Power stock rose nearly 3% to Rs 619.80 against the previous close of Rs 602.20 on BSE. Market cap of the firm climbed to Rs 2.33 lakh crore. A total of 14.26 lakh shares of the Adani Group firm changed hands amounting to a turnover of Rs 87.41 crore on BSE.
Jigar S Patel of Anand Rathi Shares & Stock Brokers said, "Support will be at Rs 595 and resistance Rs 620. A decisive move above the Rs 620 level may trigger a further upside of Rs 640. The expected trading range will be between Rs 590 and Rs 640 in the short-term."
Kunal Kamble, Sr. Technical Research Analyst at Bonanza said, "Adani Power is forming a Higher High, Higher Low structure, indicating a sustained uptrend. The stock has given a breakout from an Ascending Triangle pattern on the daily timeframe, suggesting bullish continuation. However, sellers are currently active near the resistance zone of Rs 627, leading to some short-term hesitation."
"Volume has been rising on buying days, highlighting strong bullish interest. The RSI is moving higher, supporting the ongoing price action. Additionally, DI+ trading above DI- indicates bullish momentum, while ADX above DI- reflects strength in the move. The overall setup remains bullish, but it is advisable to wait for a sustained move above Rs 627. Once that level is cleared, the stock has the potential to rally toward Rs 675–Rs 730 with a stop-loss of Rs 575," added Kamble.
AR Ramachandran, SEBI registered Independent analyst says, "Adani Power stock price is slightly bearish on the daily charts with strong resistance at Rs 615. A Daily close below the support of Rs 592 could lead to a target of Rs 558 in the near term."
In terms of technicals, the Adani Group stock is trading neither in the oversold nor in the overbought zone, signals the relative strength index (RSI) of Adani Power, which stands at 65.9.
Adani Power stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
The Adani Group firm reported a marginal fall in Q4 net profit to Rs 2,599.23 crore. Profit stood at Rs 2737.24 crore in the March 2024 quarter. However, revenue rose 6.54% to Rs 14,237 crore in the last quarter against Rs 13,363 crore (yoy). Total income climbed 4.7% to Rs 14,535 crore in the March 2025 quarter against Rs 13,881 crore in the year ago period.
Total expenses climbed to Rs 11,274 crore in Q4 against Rs 10,323 crore in the year ago quarter.
Shares of Adani Power gained for the fourth straight session amid a correction in the broader market today. Adani Power stock rose nearly 3% to Rs 619.80 against the previous close of Rs 602.20 on BSE. Market cap of the firm climbed to Rs 2.33 lakh crore. A total of 14.26 lakh shares of the Adani Group firm changed hands amounting to a turnover of Rs 87.41 crore on BSE.
Jigar S Patel of Anand Rathi Shares & Stock Brokers said, "Support will be at Rs 595 and resistance Rs 620. A decisive move above the Rs 620 level may trigger a further upside of Rs 640. The expected trading range will be between Rs 590 and Rs 640 in the short-term."
Kunal Kamble, Sr. Technical Research Analyst at Bonanza said, "Adani Power is forming a Higher High, Higher Low structure, indicating a sustained uptrend. The stock has given a breakout from an Ascending Triangle pattern on the daily timeframe, suggesting bullish continuation. However, sellers are currently active near the resistance zone of Rs 627, leading to some short-term hesitation."
"Volume has been rising on buying days, highlighting strong bullish interest. The RSI is moving higher, supporting the ongoing price action. Additionally, DI+ trading above DI- indicates bullish momentum, while ADX above DI- reflects strength in the move. The overall setup remains bullish, but it is advisable to wait for a sustained move above Rs 627. Once that level is cleared, the stock has the potential to rally toward Rs 675–Rs 730 with a stop-loss of Rs 575," added Kamble.
AR Ramachandran, SEBI registered Independent analyst says, "Adani Power stock price is slightly bearish on the daily charts with strong resistance at Rs 615. A Daily close below the support of Rs 592 could lead to a target of Rs 558 in the near term."
In terms of technicals, the Adani Group stock is trading neither in the oversold nor in the overbought zone, signals the relative strength index (RSI) of Adani Power, which stands at 65.9.
Adani Power stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
The Adani Group firm reported a marginal fall in Q4 net profit to Rs 2,599.23 crore. Profit stood at Rs 2737.24 crore in the March 2024 quarter. However, revenue rose 6.54% to Rs 14,237 crore in the last quarter against Rs 13,363 crore (yoy). Total income climbed 4.7% to Rs 14,535 crore in the March 2025 quarter against Rs 13,881 crore in the year ago period.
Total expenses climbed to Rs 11,274 crore in Q4 against Rs 10,323 crore in the year ago quarter.