Avoid averaging Adani Green, wait for lower levels in Adani Power: Anshul Jain

Investors looking to average down on Adani group’s power and renewable energy plays may need to stay patient. Market expert Anshul Jain has advised against fresh buying in Adani Green Energy Ltd and Adani Power Ltd at current levels, arguing that both stocks could see deeper corrections before offering a more favourable entry point for long-term investors.

The call came as Adani group counters remained in focus ahead of key earnings from flagship names such as Adani Enterprises and Adani Ports, even as retail interest stayed concentrated on the group’s power and energy stocks.

Caution on Adani Green

Jain said he has maintained a cautious stance on much of the Adani pack since the second week of June, with only a limited constructive view on select names. “Apart from Adani Ports and Enterprises, where structure is looking relatively better...,” he said, indicating that the broader setup across the group remains uneven.

On Adani Green, his view was unambiguous. “I was very clear that I booked profits and exited. One down move will come,” Jain said. He added that he still sees the stock drifting toward the Rs 1,160-1,174 zone and would not buy at current prices. That suggests he is waiting for a sharper correction before reassessing the risk-reward equation.

Adani Power may test support level

Jain struck a similar note on Adani Power, saying the stock has already approached immediate support but may not have completed its downside move. “Adani Power has come to immediate support. Probably, you may get to see the Rs 182 level,” he said.

Jain’s framework points to disciplined accumulation only near technically stronger support zones. In Adani Power’s case, he said he would consider buying only around Rs 182.

Why the view matters

The commentary underscores a broader market lesson: long-term conviction alone may not justify averaging at every decline. Jain’s preference for waiting for defined support levels suggests that even fundamentally followed names can remain vulnerable to technical weakness in the near term.

His remarks also draw a distinction within the Adani universe. While he sees relatively better chart structure in Adani Ports and Adani Enterprises, he appears far less comfortable with immediate entry into Adani Green and Adani Power.