Adani Power Ltd. CMP— RS 113.25
Technical Outlook & Trading Strategy:-
The Adani Power has seen a sharp fall from the high of RS 144.6 on 11th Aug 2010 to a low of RS 105.85 on 23th June2011.On the daily chart the stock has managed to close above its cluster of moving averages. The MACD indicator on the daily chart is also in a bullish zone suggesting more upside in the stock.
We recommend traders to buy 50% now and again in the range of RS 110 – RS 111 levels with a stop loss placed below RS 107.8 levels for targets of RS 120 / RS 124 levels.
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