Adani Power shares in a downtrend since stock split, slip 20% from record high; time to buy? 

Shares of Adani Power have slipped 20% from their record high amid weakness in the broader market. The power sector stock, which hit a record high of Rs 182.75 on September 23, 2025 slipped to a low of Rs 146.10 in the current session due to profitbooking in the Adani Group counter. 

The stock is down for the fourth straight session today. On September 22, the stock traded ex-date for stock split. It closed 20% higher at Rs 170 in the same session. Since then, the Adani Group counter has been falling on a closing basis. 

The stock split was carried out in a ratio of 1:10. The record date for the split of equity shares was September 22. This was the company’s first-ever stock split. A record date, or the cut-off date, is the specific day on which a company finalises the eligible shareholders for a corporate action.

Meanwhile, the Adani Group stock slipped over a percent to Rs 146.10 in early deals today. Market cap of the firm fell to Rs 2.83 lakh crore. A total of 45.48 lakh shares of the Adani Group firm changed hands amounting to a turnover of Rs 67.48 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 61.5.

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. 

Jigar S Patel from Anand Rathi said, "Support will be Rs 146 and resistance at Rs 154 . A decisive move above the Rs 154 level may trigger a further upside of Rs 160. The expected trading range will be between Rs 145  to Rs 160 in the short-term."

A R Ramachandran, SEBI registered Independent analyst says, "Adani Power stock price is bearish on the Daily charts with strong resistance at Rs 182.7. A daily close below the support of Rs 141 could lead to a target of Rs 120 in the near term."