Adani Power - Potential breakout candidate
Power sector in general is starting to look good, Jhunjhunwala in a recent interview on diwali said that a power reforms bill was awaiting approval from the ministry. A strong power reform bill could be a historical tirgger for India. We have been awaiting such a bill since 2010.
Adani Power is on the verge of breaking out. Its crossed its 200EMA and is closing in on its 200WEMA.
A long position can be taken here with a stop loss of 39.40.
Would look to double my position whenever the price goes above 42.50.
Adani Power is on the verge of breaking out. Its crossed its 200EMA and is closing in on its 200WEMA.
A long position can be taken here with a stop loss of 39.40.
Would look to double my position whenever the price goes above 42.50.
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