Adani Power Surge Over 200%: A Multibagger Stock to Watch Out for!

Adani Power, a company under the Adani Group, has seen a massive rally of over 200% in the past year. This surge gained momentum leading up to the Lok Sabha election, with hopes for continued reforms.

Experts suggest that if the current government maintains its majority, which exit polls indicate, it could further boost the sector outlook. Short-term traders are advised to consider buying the stock during dips, with a potential target of Rs 950 within 3-4 weeks.


The stock’s price has soared from Rs 255 in June 2023 to Rs 874 in June 2024, marking a remarkable upside of over 240% in just a year.

In recent months, the stock has shown strong momentum, rising by over 13% in a week, more than 30% in a month, and over 40% in the last 3 months.

Technical Insights

According to Neel .H. Parekh, a Technical Research Associate at GEPL Capital, Adani Power has maintained a strong upward trend since March 2023, showing resilience compared to market volatility.

Despite a slight dip in May, the stock bounced back after testing key support levels, indicating continued strength. It is currently trading above crucial moving averages and has shown bullish momentum according to MACD and ADX studies.

Looking ahead, Parekh suggests that the stock could continue its outperformance against the Nifty50 index, with a target of Rs 950. To manage risks, investors are advised to set a stop loss at Rs 680.

Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​

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