Two record highs for Adani Power - Factors behind the rally & expert advice for investors

Adani Power stock price today: Shares of Adani Power hit a record high for the second straight session on Tuesday buoyed by the Q4 earnings and rally in the stock market powered by BJP's historic win in the West Bengal poll. The Adani Group stock hit a high of Rs 234.35 in the current session. In the previous session, the Adani stock reached a high of Rs 233.90. The rally in the Adani Group stock has pushed it into the overbought zone with a RSI of 84.4, signalling there are more buyers than sellers for the stock. 

Adani Power shares hit two record highs since the firm reported its Q4 earnings on April 29. 

Net profit rose 52 per cent year-on-year to Rs 4,017 crore in Q4 FY26 compared with Rs 2,637 crore a year ago. However, revenue remained flat at Rs 14,223 crore, slightly lower than Rs 14,237 crore a year ago. 

Meanwhile, market cap of the firm climbed to Rs 4.43 lakh crore. A total of 22.56 lakh shares of the firm changed hands amounting to a turnover of Rs 52.06 crore.

The multibagger stock has gained 380% in three years and zoomed 1086% in five years. The strong rally in the Adani Power stock has been accompanied by high volatility in a year, signals its one year beta of 1.05. 

In terms of technicals, the Adani Group stock is trading higher than the 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages. 

Adani Power stock price targets

Virat Jagad Sr. Technical Research Analyst at Bonanza said, "Adani Power has delivered a strong breakout above the Rs 175–180 resistance zone, confirming a bullish trend continuation backed by a higher high–higher low structure and supportive moving average alignment. The overall trend remains positive, with upside potential towards Rs 250–280 in the near to medium term, while Rs 200–195 acts as immediate support and Rs 175–180 remains a crucial demand zone. Fresh entries are advisable on dips rather than chasing current elevated levels."

Hitesh Tailor, Technical Research Analyst at Choice Broking said, "Adani Power is currently trading around Rs 230 and has witnessed a strong, sharp upside rally on the weekly timeframe, reflecting robust bullish momentum. Any pullback towards the Rs 190– Rs 200 zone could act as a healthy retracement and provide support. On the upside, a sustained move above recent highs may extend the rally towards Rs 235, followed by Rs 250, supported by Fibonacci extension levels. Overall structure remains strongly bullish; however, near-term consolidation or profit booking at higher levels is likely before the next leg of the upmove."

Jigar S Patel from Anand Rathi said, "The support is placed at Rs 215, while resistance stands at Rs 230. A decisive breakout above Rs 230 could open the door for further upside towards Rs 235. For the short term, the stock is expected to trade within the Rs 215 –Rs 235 range."