Shares of Adani Power Ltd. gained 0.94 per cent to Rs 528.95 in Friday’s trade. It hit a high of Rs 530.75 and low of Rs 524.3 during the session.
On the technical charts, the 200-DMA of the stock stood at Rs 408.06, while the 50-DMA was at Rs 549.2. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.
