Adani Power shares are currently trading above their 50-day and 200-day simple moving averages (SMAs) and Monday s move has taken the stock into an overbought zone. The day s RSI and MFI stood at 78 for both indicators, as per data available on Trendlyne.
Adani Power vs Tata Power share price today: Shares of Adani Power have lost 36.81% this year and fallen 19% in a year. On the other hand, Tata Power clocked losses of 23.54 per cent in one year. The power sector stock slipped 5.06 per cent this year.
Share price of Adani Power fell for the second straight session today as investors booked profit from record high. Adani Power stock hit lower circuit of 5 per cent to Rs 390.65 against the previous close of Rs 411.20 on BSE. In the previous session, shares of Adani Power closed 5 per cent lower at Rs 411.20. On Monday (August 22), the stock hit all-time high of Rs 432.80 after the Adani Group firm said it would buy DB Power Limited for an enterprise value of Rs 7,017 crore.