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A bullish technical setup is forming in Adani Green Energy, as the stock trades near a key resistance zone, supported by major moving averages and trendline patterns.
SEBI-registered analysts Dhruv Tuli and Krishna Pathak have outlined their views.
Tuli observed a breakout on the 15-minute chart, with the stock breaking a falling trendline and holding above both the 50- and 200-day exponential moving averages (EMAs).
He noted this may signal a shift in intraday momentum.
His suggested trade setup includes an entry zone of ₹1000–₹1005, stoploss at ₹980, and a target of ₹1100, calling it a clean, textbook breakout for intraday or short-term trades.
Meanwhile, Pathak identified the stock as a short-term investment opportunity, with the current market price at ₹1000 and an add-on accumulation zone between ₹940–₹950.
He projected three upside targets: ₹1125, ₹1180, and ₹1259.
Pathak said that the stock is trading in an uptrend range, supported by a trendline and the 9-week EMA at ₹970.
He said the stock is forming higher highs and higher lows, and a sustained move above ₹1125 could extend the uptrend.
Strong support is seen at ₹860, and a break below this level may lead to downside pressure.
On Stocktwits, retail sentiment was ‘neutral’ amid ‘normal’ message volume.
The stock has declined 4.9% so far in 2025.
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