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Adani Power Limited (ADANIPOWER) Stock - Complete Technical Analysis - Nov 18, 2024

Adani Power Stock Analysis: Bearish Trends, Key Levels & Insights

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Adani Power Limited is in a strong bearish phase, with its RSI and Stochastic oscillators in deep oversold zones. This signals potential exhaustion among sellers, though a confirmed reversal is yet to be seen. The MACD remains bearish, further corroborating a downward trend. Current prices are trading well below major EMAs, reflecting sustained bearish dominance. The ADX reveals a strongly directional trend, skewed towards the downside. ATR values suggest heightened volatility, with the stock exhibiting sharp movements in both directions. Key support levels from recent lows could act as a base, while resistance from the 10- and 20-day moving averages needs to be breached for any bullish recovery. The stock is significantly off its 52-week high, emphasizing a steep decline. Traders should monitor consolidation patterns or a breakout above short-term resistance levels for clearer entry points.







 

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