Adani Green Energy shares climb nearly 3%; trend still cautious?

Shares of Adani Green Energy Ltd rose 2.82 per cent on Thursday to close at Rs 904.40. Despite the uptick, the stock is still down 10.73 per cent over the past six months.

The renewable energy major recently released its 9M FY26 operational update, reporting a 48 per cent year-on-year (YoY) rise in operational capacity to 17.2 GW. The company added 5.6 GW over the last one year. "Greenfield capacity of 3 GW added in 9M FY26 vis-à-vis 0.4 GW in 9M FY25. This represents over 90 per cent of annual capacity addition in FY25," the company said.

Adani Green is scheduled to announce its December 2025 quarter (Q3 FY26) results on Friday.

On the technical front, analysts see strong support between Rs 820–860, while resistance lies in the Rs 910–1,000 range.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "Adani Green has plunged to oversold terrain post the breakdown of 200-DSMA near Rs 1,000 subzone. The counter seems negatively biased, with a support zone visible around the Rs 840–820 zone. On the higher end, multiple resistance is placed from the Rs 950–1,000 zone in the near term."

Drumil Vithlani, Technical Analyst at Bonanza, noted continued selling pressure. "The stock is trading below its short-term moving averages, highlighting sustained selling pressure. The near-term outlook stays bearish with immediate support at Rs 860–840. Any pullback towards the resistance band (Rs 910–940) is likely to attract fresh selling. A sustained move back above Rs 940 is required to negate the negative bias and signal stabilisation," he said.

AR Ramachandran, part-time Sebi-registered research analyst at Tips2trades, said the stock remains oversold. "The stock price is bearish and also oversold on daily charts, with the next support at Rs 860. Investors should buy only if a daily close is above the resistance of Rs 927, which could lead to an upside target of Rs 1,000 in the near term," he added.

Meanwhile, Jigar S Patel of Anand Rathi pegged a near-term trading range of Rs 850–950, adding that a breakout above Rs 921 could help improve momentum.