The Adani Group Solar System (Update 4)

JC Parets
March 31, 2022

Guess where we're at again?

We're at a point where the Adani Solar System constituents get another upgrade (well, wherever applicable).

Are you invested in the Adani group stocks? Then this would be a good post for you.

The Adani Group Solar System has been one of the most talked-about posts here at ASC and one can see why! For the most part, we keep upgrading the targets unless the trend suggests otherwise. It's true that not all stocks are outperformers, but the ones that are, are doing pretty great.

So let's take a look at where these stocks stand today.

First up, we have the ASC Adani Group Index. A quick peek at this and you see a resistance around the corner. So the move that we're witnessing now could take a break. This is an absolutely logical place for that to happen.

Click on the chart to zoom in.

But what helps get a better perspective, is the next chart. This is the Adani Group relative to Nifty 500.

Here we can see that the Adani Stocks while outperforming the Nifty 500, have also recently broken out above their Fibonacci retracement level. The price is now consolidating above that level. Consolidations above breakouts are always positive. But this is definitely a chart that must be tracked. A rollover here, and we could be in for a sideways/corrective move.

Let's dive into the charts now, shall we?

Adani Enterprises showed up on our weekly scan as well, and for good reason. The price just made new all-time highs and looks good for another dash towards its next target.

We are bullish above the risk management level of 1,900 with a target close to 2,710.

Adani Power is next. Here's a textbook breakout pattern, along with strong bullish momentum. Notice how the stock has been quietly building a base over the past ten months. And now, we have confirmation of the base breakout. Adani Power is positive above 155, with a target close to 238.

Adani Total Gas is hovering near its resistance of 2,165. While the price breakout confirmation is yet to come through, there is certainly some positive activity in the indicator. A bullish case, however, can be made once the price moves above the level of 2,165. The target to track would then be 3,455.

Adani Transmission has run into its resistance at 2,575 again. Until the price moves past this level, there's really not much to do here.

Adani Ports is trading near its overhead supply zone. Notice that there is a very strong price history here at these levels. This is a consolidation that's been in place for a year now. It will be interesting to see how the price reacts around this level. A breakout above 795 could take the price higher towards its next target of 895.

This was an update of what the Adani Solar System stocks are up to. There are certain outperformers as well as underperformers withing the same group. Which of these stocks are in your portfolio?

Thanks for reading and please let us know if you have any questions.

Allstarcharts Team

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