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Adani Green, Adani Ports: Here's how to trade Adani Group stocks

Adani Group stocks are in action on Monday after the group unveiled plans to acquire a 74 per cent stake in Mumbai International Airport (MIAL), which operates the country’s second-largest airport. With six airports already under its belt, this will make the group the largest private airport operator after GMR Group, which operates Delhi and Hyderabad airports. READ ABOUT IT HERE

Here are the key levels you need to track as regards frontline Adani Group stocks.

Adani Ports and Special Economic Zone Ltd (ADANIPORTS): One can easily notice a strong recovery from 100-day moving average (DMA) on the charts, which pushed the price above 200-DMA. The stock is posied for a strong upside from here on. Though the Relative Strength Index (RSI) entered the overbought territory that resulted in a minor profit booking, the overall trend looks bullish as 50-DMA and 200-DMA are on the verge of forming a “Golden Cross”. The support stays at Rs 340 levels. The stock is likely to move towards Rs 380 levels in the days ahead. CLICK HERE FOR THE CHART

 

Adani Enterprises Ltd (ADANIENT): As the stock decisively managed to conquer the 200-DMA placed at Rs 182 levels, the overall trend has regained the lost momentum. It has managed to surpass its resistance level of Rs 220 levels and is facing some selling pressure around around Rs 245 levels. the stock will remain on a firm footing as long as it is able to hold Rs 220 levels on a closing basis. One can anticipate a rally towards Rs 275 once the current resistance of Rs 245 gets conquered. CLICK HERE FOR THE CHART

 

Adani Green Energy Ltd (ADANIGREEN): Until the Adani Green trades below the stiff resistance of Rs 400 levels, the bears may tighten their grip. The volumes have been subdued, signalling that the price has been moving on its own strength. A decisive close above Rs 400 may open doors for the stock to hit Rs 450 levels. On the downside, Rs 380 and Rs 350 looks to be support levels.  CLICK HERE FOR THE CHART

 

Adani Power Ltd (ADANIPOWER): From a broad perspective, the stock is consolidating in the range of Rs 35 to Rs 40 levels. The underneath trend stays optimistic as price trades near the upper resistance and as it does so on good volume. The charts indicate a possible breakout from the current levels. The closing basis support stays at Rs 37. In case of a breakout, a rally towards Rs 45 can be expected. CLICK HERE FOR THE CHART

 

Adani Transmission Ltd (ADANITRANS): A clear breakout of “Inverse Head and Shoulder” above 200-DMA with strong volumes suggests an optimistic outlook. The stock is heading towards Rs 300 levels, as per the daily chart. A mild selling pressure can be seen around Rs 285. That said, the Moving Average Convergence Divergence (MACD) has shown an upside strength with a positive crossover above the zero line, which should take the stock higher. CLICK HERE FOR THE CHART

Adani Gas Ltd (ADANIGAS): A “Golden Cross” of 50-DMA with 200-DMA indicates the possibility of higher levels in the days ahead. As it trends along the 50-DMA, the support levels are consistently raising. The current 50-DMA is located at Rs 155 levels.  A “Higher High, Higher low” formation also suggests a possible minor dip, which should witness buying come in around Rs 160 levels.  CLICK HERE FOR THE CHART

 



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