Big buying in Adani Green Energy Share Price today, price can go up to 1940, know what is the confirmation

Adani Green Energy Ltd. has seen a significant shift in its share price as of September 2, 2024. The stock closed at ₹1,886.35, marking a decline of 1.80% from the previous day’s close of ₹1,920.85. This movement reflects ongoing fluctuations in the renewable energy sector and investor sentiment surrounding the Adani Group.

Live Today Adani Green Energy Share Price today

As of today, the share price of Adani Green Energy is ₹1,886.35. This price indicates a downward trend, which has raised questions among investors regarding the future performance of the stock. The current market cap of the company stands at approximately ₹298,804 crore, making it a significant player in the renewable energy market.

Market Performance of Adani Green Energy Share Price today

Over the past few weeks, Adani Green Energy has experienced a volatile trading pattern. The stock reached a 52-week high of ₹2,174.10 and a low of ₹815.55. This wide range highlights the stock’s susceptibility to market changes and investor reactions. The recent decline can be attributed to various factors, including broader market trends and specific concerns related to the Adani Group.

Technical Analysis of Adani Green Energy Share Price today

From a technical perspective, the stock’s performance indicates a bearish trend. The price has been consistently below its 50-day moving average, suggesting a potential continuation of this downward movement unless a significant reversal occurs. The Relative Strength Index (RSI) is currently hovering around 30, indicating that the stock may be oversold, which could present a buying opportunity for some investors.

Fundamental Analysis of Adani Green Energy Share Price today

Fundamentally, Adani Green Energy has shown robust growth in revenue. The company reported a 30.24% year-on-year increase in net sales for the quarter ending June 2024, amounting to ₹2,834 crore. However, the absence of dividend payouts raises concerns for income-focused investors. The company’s P/E ratio stands at 244.12, which is relatively high, suggesting that the stock may be overvalued compared to its earnings.

Today Target Prediction of Adani Green Energy Share Price today

For today, the target price for Adani Green Energy is projected between ₹1,850 and ₹1,900. Traders should monitor the stock closely, as it may test these levels throughout the trading session. If the price breaks below ₹1,850, it could indicate further bearish momentum.

Intraday Trading Levels of Adani Green Energy Share Price today

Key intraday trading levels to watch include:

• Resistance Levels: ₹1,900 and ₹1,920
• Support Levels: ₹1,850 and ₹1,830

Traders should consider these levels for potential entry and exit points.

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Quarterly Results Analysis

The quarterly results have been a mixed bag for Adani Green Energy. While revenue growth is promising, the high debt levels and interest expenses (54.3% of operating revenue) continue to pose risks. The company’s ability to manage its debts effectively will be crucial for its long-term sustainability and growth.

Next Day Price Forecast

Looking ahead, the price forecast for September 3, 2024, suggests that if the stock can maintain above the ₹1,850 support level, it may attempt a recovery towards ₹1,900. However, if bearish trends persist, further declines could be expected.

Market Outlook

The overall market outlook for Adani Green Energy remains cautious. The renewable energy sector is under scrutiny, and investor confidence is wavering. The recent inclusion of Adani stocks in revised SEBI norms may provide some support, but the ongoing scrutiny of the Adani Group’s financial practices could hinder recovery.

Compare Peer Stocks

When comparing Adani Green Energy to its peers in the renewable sector, it is essential to note that while some companies have shown better resilience and growth, Adani Green’s performance has been more volatile. For instance, peers like Tata Power and NTPC have maintained steadier growth trajectories, which could attract investors looking for stability.

Key Factors

Several key factors are influencing the stock’s performance:

• Market Sentiment: The overall market sentiment towards the Adani Group remains mixed, with ongoing scrutiny affecting investor confidence.
• Debt Levels: High debt levels are a significant concern, impacting the company’s ability to invest in growth opportunities.
• Regulatory Changes: Changes in regulatory frameworks could either benefit or hinder the company, depending on how they are implemented.

Bearish and Bullish Trends Find Out

Currently, the stock is exhibiting bearish trends, with selling pressure evident in recent sessions. However, any positive news regarding the company’s financial health or strategic partnerships could shift sentiment towards a bullish outlook.

Today Update News

Recent news has highlighted the company’s efforts to expand its renewable energy portfolio, which may provide some optimism for investors. However, the overall sentiment remains cautious due to the recent price declines.

1 Month Important Levels

Over the last month, important levels to watch include:

• Resistance: ₹1,920
• Support: ₹1,800

Monitoring these levels will be crucial for traders looking to capitalize on short-term movements.

Movement Causes and 52 Week High Low

The causes behind the recent price movements include broader market trends, investor sentiment towards the Adani Group, and specific financial disclosures from the company. The 52-week high of ₹2,174.10 reflects the stock’s potential, while the low of ₹815.55 serves as a reminder of its volatility.

Note: This article is written for educational purposes, Local Haryana does not provide buying and selling of any kind of stock