Adani Green, Adani Total Gas, Adani Energy Solutions: How to trade these Adani stocks

Indian benchmark indices extended their weakness on Monday, bucking the positive global cues, thanks to the delay in the India-US trade deal, consistent FIIs selling and weak quarterly results by India Inc. BSE Sensex cracked 572.07 points, or 0.70 per cent, to settle at 80,891.02, while NSE’s Nifty50 tanked 156.10 points, or 0.63 per cent, to close at 24,680.90 for the day.
 

Select buzzing Adani Group stocks including Adani Green Energy, Adani Energy Solutions and Adani Total Gas likely to remain under the spotlight of traders for the session today. Here is what Mileen Vasudeo, Senior Technical Analyst at Arihant Capital Markets has to say about these stocks ahead of Tuesday’s trading session:
 

Adani Green Energy | Caution | Resistance: Rs 1,020 | Support: Rs 965

Adani Green has breached its bullish trendline and is now trading below it at the current juncture, indicating a potential shift in trend. While the stock witnessed a minor bounce in recent sessions, this rebound may face resistance near the Rs 1,020 mark. A sustained close above this level is essential to confirm renewed buying momentum. Until then, investors are advised to wait and watch rather than initiate fresh positions. On the downside, immediate short-term support is seen near Rs 965, which could act as a cushion if selling pressure resumes.
 

Adani Energy Solutions | Caution | Resistance: Rs 840 | Support: Rs 810

Adani Energy Solutions has broken below its bullish trendline and is now positioned beneath it at the current juncture, signaling caution for traders. Although the stock witnessed a bounce in recent sessions, it is likely to face resistance around the Rs 835 level. A decisive close above Rs 840 would be required to trigger a fresh buying opportunity. Until then, it’s prudent to stay on the sidelines. On the downside, immediate short-term support is expected near Rs 810, which could provide a base in case of further declines.
 

Adani Total Gas | Caution | Resistance: Rs 640 | Support: Rs 610

Adani Total Gas has broken below its bullish trendline and is now trading beneath it at the current juncture, suggesting a weakening of the recent upward momentum. While the stock has seen a bounce in the latest sessions, the recovery is likely to encounter resistance near the Rs 640 level. Traders are advised to wait for a decisive close above Rs 640 before considering fresh long positions. On the downside, immediate short-term support is expected around Rs 610, which may act as a cushion if selling pressure persists.