Adani Power, Reliance Power, JP Power: Stocks to buy— Check price target, stop loss & more

Indian equity benchmark indices kicked-off the week on a positive note and ended higher on Monday on the back of resumption of the US-Iran talks and upbeat Q4 earnings despite rise in the crude oil prices. The BSE Sensex jumped 639.42 points, or 0.83 per cent, to close at 77,303.63, while NSE's Nifty50 soared 194.75 points, or 0.81 per cent, to end at 24,092.70.

Select buzzing power stocks including Adani Power, Jaiprakash Power Ventures Ltd (JP Power) and Reliance Power Ltd are likely to remain under the spotlight of traders for the session today. Here is what Jigar S Patel, Senior Technical Research Analysts at Anand Rathi Share and Stock Brokers has to say on them ahead of Tuesday's trading session:
 

Reliance Power | Buy on Dips | Target Price: Rs 31-35 | Stop Loss: 26

Reliance Power has already delivered nearly a 50 per cent rally from its recent bottom, reflecting strong momentum. However, the MACD indicator has now given a bullish crossover from an extreme oversold zone, like the bullish signal seen in May 2019, which could indicate further upside potential. Any short-term pullback may be used as a buy-on-dips opportunity for traders. The stock is expected to move towards Rs 35 over the next 2-3 weeks if momentum sustains. Immediate support is placed near Rs 26, while resistance is seen around Rs 31. A breakout above Rs 31 could accelerate the next leg of the rally.
 

Adani Power | Caution | Resistance: Rs 222 | Support: 208

Adani Power Ltd appears stretched after a strong rally, and profit booking is advised at current levels. Fresh long positions should be avoided as the stock is trading at elevated valuations in the short term. Momentum indicators suggest the price is overextended and moving in the overbought zone, which may limit immediate upside. The stock is also trading significantly above its 20-day and 50-day DEMA averages, indicating that a mean reversion or healthy correction cannot be ruled out. Immediate support is expected near Rs 208, while resistance is placed around Rs 222. Traders should remain cautious and wait for better entry levels after consolidation or pullback.
 

Jaiprakash Power Ventures | Buy on Dips | Target Price: Rs 20.62-23 | Stop Loss: 17.5

Jaiprakash Power has already delivered nearly a 54 per cent rally from its recent bottom, reflecting strong momentum. However, the MACD indicator has now given a bullish crossover from an extreme oversold zone, similar to the bullish signal seen in march  2025 and July 2015 , which could indicate further upside potential. Any short-term pullback may be used as a buy-on-dips opportunity for traders. The stock is expected to move towards Rs 23 over the next 3-4  weeks if momentum sustains. Immediate support is placed near Rs 17.5 , while resistance is seen around Rs 20.62. A breakout above Rs 20.62 could accelerate the next leg of the rally.