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Adani Stock to BUY, Adani Ports Share Price Target: Adani Ports and Special Economic Zone (APSEZ) may be gearing up for a major breakout after spending
almost 18 to 24 months in a prolonged consolidation phase, analyst at Religare Broking said in a conversation with ET Now Swadesh. On the trading front, Ajit Mishra, Senior Vice President (Research), Religare Broking, said the stock, which had been trading in a range for almost two years, is now showing decisive signs of a fresh rally.
Reasons why investors should buy Adani Group stock
According to Mishra, the technical structure of Adani Ports has turned notably stronger in the past few sessions, supported by robust trading volumes — a key indicator of strengthening investor participation.
“After nearly two years of sideways movement, the stock is finally showing momentum and is positioned close to its record highs,” the analyst said, adding that this could mark the beginning of the next leg of the rally.
At present, the counter is trading around the Rs 1,500–1,520 zone, a crucial region where the stock has been repeatedly hovering.
Adani Ports Share Price Target
The expert suggests that traders can consider fresh long positions with a stop loss near Rs 1,440. He has recommended buying the BSE Sensex stock for targets of Rs 1,640–1,650 for the future term.
The analyst also noted that market sentiment has been improving across select sectors, but Adani Ports stands out due to its strong chart pattern after a long consolidation.
“Volumes are picking up, structure is improving, and the stock is showing the strength needed for a breakout,” he explained.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
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