The candlestick formation was accompanied by a marginal increase in volume which adds little weight to the bullishness of the stock. The Relative Strength Index (RSI) which is a lead indicator has crossed above 30 from the oversold zone, indicating that the stock is likely to witness some momentum on the upside.
Adani Power shares may rally 18%, positioned as a pure play in India’s thermal power space: InCred Equities
InCred Equities has initiated coverage on Adani Power with an ‘add’ rating and a target price of Rs 649, citing a potential 17.8% upside. The