Adani Power at Crucial Breakout Zone: Can ₹155 Trigger the Next Rally?

Adani Power is once again at a decisive technical juncture, with the stock approaching a key resistance zone near ₹153–155. This level has historically acted as a supply barrier, and the current price action suggests that the stock is attempting a fresh breakout after a prolonged phase of consolidation. From a structural perspective, the stock has gradually shifted into a higher low formation, indicating accumulation at lower levels. The recent upmove is supported by price sustaining above short-term moving averages, which reflects strengthening short-term momentum. Additionally, the expansion of Bollinger Bands signals a rise in volatility, often seen at the beginning of trending moves. Momentum indicators also support the bullish case. The RSI is hovering near the 65–70 zone, indicating strong buying interest. While it is approaching overbought territory, sustained strength above 60 typically confirms trend continuation rather than reversal. The key trigger now remains a decisive breakout and sustain above ₹155. If the stock manages to hold above this level on a closing basis, it can open the door for further upside towards ₹170, followed by ₹180–183, which marks the previous swing high zone. However, this level also remains a critical test. Any failure to sustain above ₹155 could lead to a short-term pullback, with immediate support placed around ₹145, and a stronger base near ₹133–135. In conclusion, Adani Power is at a make-or-break level. A confirmed breakout can lead to a strong trending move on the upside, while rejection may result in continued consolidation. Traders should closely watch price behavior around ₹155, as it will likely define the next directional move.