Adani Power share price: Adani Power share price rises 5.96% on rise in Nifty
On the technical chart, the 200-DMA of the stock is Rs 281.59 and the 50-DMA is Rs 382.46. If a stock is trading above the 50-DMA and 200-DMA, this usually means the immediate trend is up. On the other hand, when a stock is trading below the 50-DMA and 200-DMA, it is considered to be in a bearish trend, while trading between these averages indicates that the stock could go in either direction.
The stock was trading above the momentum indicator moving average convergence divergence (MACD) signal line, indicating a bullish bias on the counter. MACD is known to indicate a trend reversal in a traded security or index. This is the difference between the 26-day exponential moving average and the 12-day exponential moving average. A 9-day exponential moving average, called a signal line, is plotted on top of the MACD to reflect “buy” or “sell” opportunities.
On the other hand, the relative strength index (RSI) of the stock is recorded at 86.1. Traditionally, a stock is considered overbought when its RSI value is above 70 and oversold when it is below 30. The stock’s return on equity (RoE) is 65.35% and return on capital employed (RoCE) is 15.02. RoCE is a financial ratio that determines the profitability of a company and the efficiency of its use of capital, while RoE is a measure of business profitability in relation to capital.
