Shares of Adani Power Ltd. gained 5.96 per cent to Rs 570.6 in Wednesday’s trade. It hit a high of Rs 589.3 and low of Rs 540.0 during the session.
On the technical charts, the 200-DMA of the stock stood at Rs 281.59, while the 50-DMA was at Rs 382.46. 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.
