Adani Energy Solutions Limited Stock Forecast

Red day on Tuesday for Adani Energy Solutions Limited
(Updated on Jun 25, 2024)

ADANIENSOL.NS Signals & Forecast

There are few to no technical positive signals at the moment. The Adani Energy Solutions Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹1,016.09 and ₹1,044.32. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 10, 2024, and so far it has fallen -1.23%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Adani Energy Solutions Limited stock

Adani Energy Solutions Limited finds support from accumulated volume at ₹1,001.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹18.10 between high and low, or 1.79%. For the last week, the stock has had daily average volatility of 2.43%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ADANIENSOL.NS) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Adani Energy Solutions Limited to open at ₹1,018.20, and during the day (based on 14 day Average True Range), to move between ₹963.40 and ₹1,065.00, which gives a possible trading interval of +/-₹50.80 (+/-5.01%) up or down from last closing price. If Adani Energy Solutions Limited takes out the full calculated possible swing range there will be an estimated 10.02% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹1,020.05 (0.58%) than the support at ₹1,001.05 (1.30%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Adani Energy Solutions Limited stock A Buy?

Adani Energy Solutions Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -2.751 Sell Candidate Unchanged

Predicted Opening Price for Adani Energy Solutions Limited of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.