News, 02 September: Adani Power Limited is shooting like a rocket. From 70 INR to 103, it did not give any chance to think about posting upper circuit every day. Now, many traders have this feeling of FOMO (Fear of Missing Out)
Adani Power, though their corporate governance practices, will always be not as good as Marico and Tatas, they have built a credible and big business.
And, they are here to stay for sure. India needs transmission power and they are one of the topmost companies solving this problem.
Adani Power Ltd registered impressive growth in the latest quarter with a net profit of Rs 278.22 crore in the June 2021 quarter, compared to a consolidated net loss of Rs 682.46 crore in a similar quarter last year, as stated by the company.
So, The Question Is Should You Buy Adani Power Now?
You can start accumulating it once it stabilizes as it may breathe a little before moving further.
Before touching the original high of 168, it’s still far away and there is enough time.
As you can see in the image below, it has just given entry in the Hilega Milega set-up.
Also Read: A High Probability Double Bollinger Band and Hilega Milega System
It has to be kept in mind that shares of Adani are highly operator driven and it’s not bad as running a business is not easy.
It is always recommended to be cautious and should not put all your money into such stocks which are highly volatile.
But yes, you can put some money into it. Such stocks should be 2-3% part of your portfolio when they are in strong momentum and can give stupendous returns in a short period.
And even if they fall, the loss is just 40% of 2 %: 0.8 Rs out of 100 Rs portfolio.
For intraday trading, I’m not an expert as feel really uncomfortable.
Disclaimer: I’m not a Sebi Registered Research Analyst and do your own due diligence before putting your money into it. I share my personal opinion in my blog and it should not be taken as a recommendation or tip.