Adani Enterprises share are down by -0.22%, Nifty down by -0.13%

At 05 Sep 11:04 today, Adani Ent shares are trading at price ₹3006, -0.22% down from the previous closing price. Sensex is trading at ₹82247.01, down by -0.13%. The stock has hit a high of ₹3026.55 and a low of ₹3003 during the day.

On the technical front, the stock is trading below the short term simple moving averages of 5, 10, 20 day as well as longer term moving averages of 50, 100 & 300 days.

The SMA values for the stock are given below :

The classic pivot level analysis shows that on a daily time frame, the stock has key resistances at ₹3039.93, ₹3067.37, & ₹3109.73, whereas it has key support levels at ₹2970.13, ₹2927.77, & ₹2900.33.

Till 11 AM today, the volume traded on NSE & BSE for Adani Enterprises was -49.69% lower than the previous trading session. Volume traded is an important indicator along with price to study trends. Positive price movement with higher volume suggests a sustainable upmove, and negative price movement with higher volume might be an indication of further decline in prices.

Overall, as per Mint technical analysis, The stock is currently experiencing a strong downtrend.

From a fundamental analysis perspective, the company has a ROE of 8.98% .The current P/E of the stock is at 86.51 .

The median 1-year forecasted upside in this share is at 40.74% with a target price of ₹4230.5.

The company has a 74.72% promoter holding, 4.22% MF holding, & 11.73% FII holding as per filings in the june quarter.

The MF holding has increased from 4.02% in march to 4.22% in june.

The FII holding has decreased from 14.41% in march to 11.73% in june quarter.

Adani Enterprises share price down -0.22% today to trade at ₹3006 while its peers are mixed. Its peers such as Anmol India are falling today, but its peers Coal India, Sindhu Trade Links, Emergent Industrial Solutions are on the rise. Overall, benchmark indices Nifty & Sensex are down -0.13% & -0.13% each respectively.