Adani Power share are up by 0.21%, Nifty up by 0.07%

At 10 Sep 11:04 today, Adani Power shares are trading at price ₹636.85, 0.21% up from the previous closing price. Sensex is trading at ₹81675.76, up by 0.14%. The stock has hit a high of ₹641.35 and a low of ₹634.2 during the day.

On the technical front, the stock is trading above the 300 days SMA & lower than the 5,10,20,50,100 day SMA. The stock will have support at 300 days SMA & face resistance at 5,10,20,50,100 days SMA.

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 ₹645.03, ₹657.02, & ₹669.03, whereas it has key support levels at ₹621.03, ₹609.02, & ₹597.03.

Till 11 AM today, the volume traded on NSE & BSE for Adani Power was -73.70% 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's continued downtrend suggests a bearish trend is underway.

From a fundamental analysis perspective, the company has a ROE of 57.44% .The current P/E of the stock is at 15.51 .

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

The company has a 72.71% promoter holding, 0.01% MF holding, & 14.73% FII holding as per filings in the june quarter.

The MF holding has decreased from 0.02% in march to 0.01% in june.

The FII holding has decreased from 15.91% in march to 14.73% in june quarter.

Adani Power share price has gained 0.21% today to trade at ₹636.85 in resonance with its peers. Its peers such as are also on the rise. Overall, benchmark indices Nifty & Sensex are up 0.07% & 0.14% each respectively.