The Adani Group Solar System (Update 5)

August 10, 2022

The market has brought up back to the point where we have to increase the headroom on the Adani Group charts again!

These updates have been such great reminders of riding the trend, don't you think? The way these stocks have taken off and continue to move higher is quite the story!

So without any further delay, let's take a look at the levels we're following next!

For starters, let's see where our custom equally weighted index is headed. Of course, we know it's moving higher, but it's important to note the trend.

Well, there we have it! Higher highs, higher lows. Held on to the support zone and bounced off of it. It's now got a little more room before it runs into resistance.

Let's go over the roster sheet now!

Adani Enterprises has been on an absolute roll with the strong bullish trend in place. The price has now broken out above the resistance of 2,680 and looks good for the next leg of the rally. The target that we're tracking is 4,265.

Adani Total Gas is just hanging around its resistance and exploring that zone a bit. The trend is strong and momentum is in place but the price is yet to break out. If the price moves past 3,455 and sustains above those levels, then the next level to track would be 5,545.

Adani Transmission is next in line. The price is halfway through the target of 4,075. We've seen the momentum pick up in this stock only after it dipped lower towards 1900.

Adani Power is just about making its way to the target level of 370. How the price reacts around these levels will decide the future course of action in this stock. In case of a breakout, the price could move higher towards 585. OR this could be a completely logical place for the price to halt and take a breather.

Adani Ports is currently struggling near its overhead supply glut zone of 795. Just look at the price action at that level! The price definitely has its work cut out here with multiple levels of resistance before we can see a new all-time high. But well, you've gotta pick your stocks from within a group.

Similarly, Adani Green is stuck below the overhead supply of 2,480. The price has found it difficult to get past this level and we're still waiting to see how this trend plays out. Until we have a breakout on our hands, there's nothing to do!