Positive Breakout Stocks for Tomorrow: Traders are always on the lookout for potential breakout stocks that could offer better opportunities for intraday as well as short term. So In this post, we’ll analyze a promising breakout stock for tomorrow, March 12, 2024, listed on the National Stock Exchange (NSE).
Stock Overview : ADANI POWER LTD
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- Symbol: ADANI POWER LTD
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- Exchange: NSE (National Stock Exchange)
Stock Analysis: From past 3-3.5months stock was trading in between a range but in the past, trading sessions stock has been trading near its breakout zone which is near around 570-580 Now Adani power is trading near 566, what it shows it shows that this stock can do better in coming days and once this level sustains of 580-585 this will move massively , but as for now if we talk about today trading session Nifty Banknifty and major sector has not performed well. If the market manages and hold its current scenario of bearishness then it will not be good for the stock as well but if in the coming days the market sustains and give a positive move then this stock will show a rally around 10-15% easily. Stock is trading under ascending triangle pattern if it break this level of resistance then will shoot in coming days .
Important Levels:
- Buy Level: 580-585
- Stop Loss: 530
- 1st Target : 630-650
- 2nd Target: 650-700
- Horizon : 2-3 weeks
Disclaimer: This analysis is based on historical data and based on technical analysis includes own expertise. Before taking any trade consult your financial advisor we will not be responisble for your any losses .
