NSE CASH – SELL ADANIPOWERAT

NSE CASH – SELL ADANIPOWERAT 27 TGT 26.70 26.47 26.2 SL 27.27

Adani Power Ltd is the power business subsidiary of conglomerate Adani Group with head office at Ahmedabad, Gujarat. Adani Power Ltd is known by the name of India’s largest private thermal power producer with a capacity of 10440 MW. We gave a sell call in it. Following are the points on behalf of which we gave the call:

• RSI down side crossover at 50 indicates reversal.
• ADX above 20 indicates strong trend.
• Crossover of 5, 18 SMA and 60 EMA.
• Fundamentally, Q4FY17 company had given a net loss of 4,960 Crore, Sales declined by 20% .