Adani Green

• 03 June, 2024 Ruchit Thakur

Adani Green

Adani Green is looking strong for long-term investment, as the stock is breaking off its all-time high and moving higher.

Adani Green is providing a good opportunity to buy in the 1990-2010 range, as indicated in the chart, and it has performed well so far with a huge upside potential.

Please view the Adani Green daily chart. The stock is trading above the horizontal resistance and continuing to rise after breaking out from the 1990-2010 zone. Adani green is now experiencing strong demand around the 1980 zone, as shown in the chart. The projected upside is 2300-2350. 

• Adani Green is a fantastic long-term investment prospect because it has provided a reasonable breakout around the 1990 to 2010 zones and is performing well on the uptrend.
• Adani Green is looking solid on the chart, and the upside is open for the 2300 and 2350 levels from here on out.
• As of today, 1990-2010 is the best time to acquire this stock because the risk-to-reward ratio was optimum for initiating a buy in cash holding.

Please refer to the accompanying Adani Green Chart for reference. The daily chart reveals horizontal resistance and breakout, as well as demand in the 1990-2010 area, and the stock is rising after accounting for ample demand in the previously cited 1980-2000 range.

Please look at the horizontal resistance and its breakthrough, which led to the stock reaching a new all-time high today, providing a good chance to go long at the current market price. So far, the stock has followed the chart's upward trend and is approaching the 2300 and 2350 levels, respectively.

Investors may seek for a long-term purchase opportunity in the 1990-2010 area because the stock is enjoying high demand, resulting in a rebound towards the 2300 and 2350 levels, indicating a positive risk-reward ratio.

Investors could continue to buy the stock in cash for a long time and place a stop loss around 1940 to achieve price targets of 2300 and 2350, respectively.

Adani Green daily chart displays support and resistance. The spot chart represents every level.

Company Profile: Adani Green Energy Limited (AGEL) is an Indian renewable energy firm based in Ahmedabad, India. Adani Group, an Indian corporation, owns the majority, with Total Energies holding a minority stake. The company operates the Kamuthi Solar Power Project, one of the world's largest solar photovoltaic facilities