Adani Enterprises, Adani Green shares: Buy, hold or sell these two Adani stocks?

Investors sitting on outsized gains in Adani group stocks may not need to rush for the exit yet. On Business Today Television’s Daily Calls, JM Financial Senior Vice President for Derivatives Research Akshay Bhagwat advised a viewer to continue holding Adani Enterprises Ltd and Adani Green Energy Ltd, arguing that technical indicators still do not point to any meaningful correction.

The call came in response to a query from a Gurgaon-based investor whose family bought Adani Enterprises at an average price of Rs 110 and Adani Green at Rs 10, creating what the show described as multi-bagger profits at current levels.

Technical setup remains supportive

Bhagwat's core message was unambiguous: “There is absolutely no need to book profits unless you need liquid cash at this point of time.” For investors wondering whether the rally has run too far, his reading was that “in no way these technical charts are hinting about any corrective action.”

That matters because profit-booking in high-beta conglomerate stocks is often driven less by fundamentals and more by fear of volatility. In this case, the expert’s view suggests momentum remains intact, and that the trend has not yet flashed a technical exit signal.

Why the Adani trade still looks resilient

Bhagwat framed the current setup against the group’s turbulent past, reminding viewers that Adani Enterprises had previously fallen sharply “from Rs 3,900 to all the way till Rs 1,000” during the 2020-2023 phase. His argument was that long-term holders who have already endured deep drawdowns may now be better served by patience than by premature target-setting.

“Setting targets would just be limiting your profits,” he said, underscoring a classic trend-following approach: stay invested while the structure remains strong, and only reassess when either liquidity needs change or charts deteriorate.

Market mood adds context

The advice also came during a volatile trading session in which broader markets were under pressure, even as pockets such as banks and financials showed resilience. That backdrop is important. In uncertain markets, investors often rotate out of winners to lock in gains. But Bhagwat's stance indicates he does not yet see the kind of technical weakness in Adani group counters that would justify such a move.

For existing shareholders, the takeaway is clear: the debate is no longer about whether these investments have delivered extraordinary returns — they clearly have. The real question is whether the trend has broken. For now, at least by JM Financial’s technical reading, the answer remains no.