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Price and trend forecast of ADANIPOWER for Tomorrow, Weekly, Monthly

Adani Power Limited

Symbol: NSE:ADANIPOWER

ISIN: INE814H01011

596.50

As on 2024-04-24

194.40 (52W Low) 646.90 (52W High)

ADANIPOWER's Today's Performance

Adani Power Limited started the day by opening at 601.00 today 2024-04-24. Its shares reached a high of 604.90 and dipped to a low of 589.60 in intraday. When the markets closed, ADANIPOWER’s stock price settled at ₹596.50 per share. Also check out its key support and resistance levels.

ADANIPOWER Buy/Sell Targets

Tomorrow, sell ADANIPOWER when its price reaches ₹ 596.50 with a stop-loss order at ₹ 602.92. You can set the target price as ₹ 590.08 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of ADANIPOWER for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for ADANIPOWER

Downside Targets Value in ₹
Tomorrow Down Target 1 604
Tomorrow Down Target 2 612
Tomorrow Down Target 3 620

Important Levels for ADANIPOWER

Holding Levels Value in ₹
Tomorrow Up Target 1 589
Tomorrow Up Target 2 582
Tomorrow Up Target 3 574
Based on where the stock opens tomorrow, if ADANIPOWER opens on a positive note, our first target will be ₹604. If Target 1 is achieved, we will aim for Target 2 which is ₹612.

But if ADANIPOWER falls below the average value of ₹597.00, you can enter a sell side position with target number 1 - ₹589 and second target - ₹582 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of ADANIPOWER

Looking at ADANIPOWER, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, ADANIPOWER has been on a Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for ADANIPOWER is moderate bullish.

Tomorrow's Volume based share price Forecast for ADANIPOWER

ADANIPOWER's Volume is currently in a Decreasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is -79%.

Reversal detection for ADANIPOWER

Predicted trend chart of ADANIPOWER tomorrow for price forecast
ADANIPOWER may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹603 in morning tomorrow
Target 1 tomorrow603
Target 2 tomorrow606
Target 3 tomorrow612
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with ADANIPOWER's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if ADANIPOWER opens on a positive note, our first target will be ₹604.40. If Target 1 is achieved, we will aim for Target 2 which is ₹612.30.

But if ADANIPOWER falls below the average value of ₹597.00, you can enter a sell side position with target number 1 - ₹589.10 and second target - ₹581.70

ADANIPOWER's Weekly Targets
1st Up Target 607.60
2nd Up Target 618.70
1st Down Target 587.50
2nd Down Target 578.50

As the week for ADANIPOWER ended on bearish sentiments, we can expect further continuation of this sentiment. ADANIPOWER's initial target will be 607.60 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 587.50 in the upcoming week.

Weekly OHLC Values
Open 608.25
High 609.70
Low 589.60
Close 596.50

Week for ADANIPOWER started with an open price of 608.25, and the close was at 596.50. ADANIPOWER reached the highest of 609.70 and dipped lowest up to 589.60 last week. This indicates a bearish sentiment for the week.

ADANIPOWER full month swing targets
Monthly Up Target 1 627.70
Monthly Up Target 2 638.80
Monthly Down Target 1 567.40
Monthly Down Target 2 538.30

Targets of ₹627.70 can be expected to be reached in the coming month. Once ADANIPOWER achieved this target, we can aim for the next upside target of ₹638.80.

ADANIPOWER if fails to hold upside, down targets of ₹567.40 and ₹538.30 can be achieved by end of this month.

For complete three weeks if ADANIPOWER is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as ADANIPOWER

Symbol Name Industry
NTPC NTPC Limited Utilities - Regulated Electric
ADANIGREEN Adani Green Energy Limited Utilities - Renewable
POWERGRID Power Grid Corporation of India Limited Utilities - Regulated Electric
ADANIPOWER Adani Power Limited Utilities - Independent Power Producers
TATAPOWER Tata Power Company Limited Utilities - Independent Power Producers

Summary

ADANIPOWER is expected to reach the target of 604.40 in tomorrow's trading session.

After achieving the initial target in ADANIPOWER, we will aim for higher targets of 612.30 tomorrow.

However, if ADANIPOWER starts to trade below ₹597.00, then we will shift our focus to the sell side and aim for down targets of 589.10 and 581.70.