Adani Power shares fall 18% from record high; fresh price targets, outlook for near term

Shares of Adani Power have lost 18% from the record high they hit in September end this year. The Adani Group stock reached a record high of Rs 182.75 on September 23, 2025, a day after the stock traded ex split in a ratio of 1:10. Since then, the stock has been trading in a range or is in a consolidation mode. The power sector stock closed on a flat note Rs 149.55 on BSE today. Market cap of the firm stood at Rs 2.88 lakh crore. 

A total of 16.19 lakh shares of the Adani Group firm changed hands amounting to a turnover of Rs 24.15 crore on BSE.

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 57.7.

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. 

Analysts do not look very bullish on the prospects of the Adani Group stock. 

Kunal Kamble, Sr. Technical Research Analyst at Bonanza said, "Adani Power after facing rejection from its resistance zone has witnessed profit booking, leading the stock to consolidate near its 50 DEMA placed at Rs 144.39. This consolidation suggests that the stock is respecting its 50 DEMA as a key support level. However, a decisive slip below this level could indicate that bulls are losing control, potentially dragging the stock towards Rs 127–132 levels. Despite this, the overall trend remains positive as long as the stock sustains above its 50 DEMA. A fresh buying opportunity may emerge above Rs 156.10, which could open the door for an upward move towards Rs 180–220 levels."

Jigar S Patel  from Anand Rathi says, "Support will be at Rs 144 and resistance at Rs 155  . A decisive move above the Rs 155 level may trigger a further upside of Rs 160. The expected trading range will be between Rs 140 to Rs 160 for the short-term."

Amruta Shinde, Research Analyst, Choice Broking said, "Adani Power shares are moving in a narrow range between Rs 142 and Rs 155 after hitting their record high, as the stock witnesses some profit-booking at elevated levels. On the upside, a decisive move above Rs 155 will be crucial to trigger the next leg of the rally. A sustained breakout above this level could open the gates for a move toward the Rs 163– Rs 170 zone in the near term.
On the downside, immediate support is placed at Rs 142, with additional cushion around the Rs 140– Rs 136 zone." 

Amol Athawale, VP-technical Research, Kotak Securities said, "Following a short-term correction, the stock is now exhibiting range-bound activity. For positional traders, the 20-day SMA (Simple Moving Average) or the 140-day SMA will act as key support zones. As long as the stock trades above these levels, the bullish setup is likely to continue. On the higher side, Rs 160 and Rs 170 could be crucial resistance areas for the bulls. However, if the stock falls below the 20-day SMA or the 140-day SMA, the uptrend could become vulnerable."

AR Ramachandran, SEBI registered Independent analyst says, "Adani Power is sideways to bearish stock on the Daily charts with strong resistance at Rs 154. A Daily close below support of Rs 145 could  lead to a target of Rs 122 in the near term."