Bulls favour Adani Group despite mkt weakness; stocks can rally up to 17%

Adani group stocks have been in limelight post the stupendous listing of Adani Wilmar four days ago.

Shares of the Adani group were in limelight post stupendous listing of the Adani Wilmar group, wherein the stock zoomed over 80 per cent in mere four trading sessions, before slipping into the negative zone in trades today. 

Meanwhile, here's how one can strategize their trading activity in other Adani group stocks.
 

Adani Enterprises Ltd (ADANIENT)
Likely target: Rs 2,000
Upside potential: 17%

As long as the shares of Adani Enterprise actively defend the major support of Rs 1,700-level, the bullish bias is likely to lead the stock towards the Rs 2,000-mark, based on the weekly chart. While the major technical indicators show the negative crossover, the price action has not lost the upward momentum, according to both daily and weekly chart.  CLICK HERE FOR THE CHART

Adani Green Energy Ltd (ADANIGREEN)
Likely target: Rs 2,300 (after consecutive close above Rs 2,000)
Upside potential: 15%

The level of Rs 1,800 possess a greater significance for this stock. Unless this mark is violated with strong volumes, the negative bias may not succeed in building the sentiment. On the higher side, consecutive closes above the Rs 2,000-mark could see the emergence of next upward rally that could stretch towards Rs 2,300 level. CLICK HERE FOR THE CHART

Adani Transmission Ltd (ADANITRANS)
Outlook: Breakout above Rs 2,100

Shares of Adani Transmission did breakout above Rs 2,000 level, according to the weekly chart. The current pattern shows sideways movement with holding the support of Rs 1,900. Unless a decisive move does violate this support, the trend remains upward. The next breakout stays above Rs 2,100 level.  CLICK HERE FOR THE CHART

Adani Power Ltd (ADANIPOWER)
Likely target: Rs 135
Upside potential: 10% and 15%

The shares of Adani Power saw a six month highest daily volume in trades on Thursday. This volume - price action enabled the Relative Strength Index (RSI) to make a positive crossover. Going forward, the support of Rs 102 remains the critical mark on the downside. The overall trend suggests a rally in the direction of Rs 135 and Rs 142 , which are the next immediate resistance.  CLICK HERE FOR THE CHART
 
Adani Ports and Special Economic Zone Ltd (ADANIPORTS)
Likely target: Rs 850
Upside potential: 15%

The shares of Adani Port trade with a bullish bias as it holds the support of Rs 670 firmly. The present chart scenario exhibits sideways movement, according to the weekly chart. On the upward breakout, a move above Rs 800 could see a sharp rally towards Rs 850 and Rs 890 levels. The candlestick formation shows a positive bias. CLICK HERE FOR THE CHART