Adani Power

adani power share price: Big Movers on D-St: What should investors do with Adani Power, Deepak Fertilizer and Apollo tires? | Rare Techy


Indian markets closed in the green on Wednesday for the fourth consecutive day. The S&P BSE Sensex rose over 400 points to close above 60,000 while the Nifty50 closed above the 17,900 level.

Sector-wise, buying was seen in telecom stocks, consumer goods, IT, financials, and FMCG stocks while some selling was seen in auto and capital goods stocks.

Focused stocks included

which rose 5 percent, which hit a 52-week high and closed with gains of more than percent, and which rose more than 4 percent.

Here’s what Akhilesh Jat, Category Manager – Equity Research, CapitalVia Global Research suggests investors should do with these stocks as the market resumes trading today:

Adani Power: Buy at Rs 381| Stop Loss Rs 368| Target Rs 400

The share price of Adani Power closed in the green for the sixth consecutive session. During the session, the stock price hit a new all-time high of Rs 380.45. The stock has gained over 281% on the NSE in the calendar year 2022, so far.

This stock trades in high-highs and high-low formations and can be seen trading in the rising channel in the wide chart.

Fertilizer Deepak: Avoid

After days of volatility, Deepak Fertilizers share price remained in the green for the second day in a row and was at an earlier high.

The primary trend of the stock is bullish, however, the negative divergence in the RSI and Gravestone Doji formation above the trend reversal event, so at this juncture, one should avoid fresh entry into this stock.

Apollo Tires: Buy at 262| Stop Loss Rs 252| Target Rs 278

Apollo Tires share price continued its positive momentum for the fourth straight session. The stock has rallied more than 18 percent in August 2022 to hit a 52-week high.

The MACD on the Daily chart crossed the Zero Line with a positive cross indicating that it may continue the upward trend. A breakout of the immediate resistance level of Rs 262 could lead to a big bull run in the near term.

(Disclaimer: Recommendations, suggestions, views and opinions given by experts are their own. These do not reflect the views of Economic Times)


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