Archive · 8 Oct 2026
Adani Power Shares Fall as Analysts Flag Key Support Levels
Adani Power shares dropped on Thursday while the wider stock market was also weak.
The article says some investors may have been taking profits after earlier gains.
Analysts are watching several price levels where the shares might stop falling.
Jigar S. Patel said ₹182–₹183 is an important support area.
If the shares fall clearly below it, they could head lower, while staying above ₹185 might allow a recovery.
Vipin Kumar also sees possible support near ₹183, ₹177 and ₹174.
Both analysts advised traders to wait for signs that the price has become steadier before making new trades.
Adani Power fell as much as 6.3% to ₹184.15 on Thursday, 8 October, during a weak broader market session.
The article attributed the decline largely to profit booking and said the stock was down about 8% so far that month.
Jigar S. Patel identified ₹182–₹183 as a major support zone, with a possible move toward ₹170 if the stock closes decisively below it.
Patel said holding above ₹185 could allow a short-term recovery toward ₹196, but advised waiting rather than taking aggressive positions.
Vipin Kumar cited support around ₹183, ₹177 and ₹174, and recommended waiting for stability or a reversal pattern before entering.
- Who
- Adani Power and analysts Jigar S. Patel and Vipin Kumar.
- What
- Adani Power shares fell more than 6% intraday, and analysts outlined technical support and resistance levels.
- When
- Thursday, 8 October; the year is not specified.
- Where
- Trading on the BSE.
- Why
- The article attributed the decline largely to profit booking amid broader stock market weakness.
Cautious outlook
Potential recovery
Near-term direction
Cautious outlook
Patel said momentum indicators pointed to weakness and that a decisive close below ₹182–₹183 could increase selling pressure, with the next support near ₹170.
Potential recovery
Patel said that if the stock sustains above ₹185, a short-term recovery toward ₹196 cannot be ruled out.
Trading approach
Cautious outlook
Both analysts advised waiting for stability or a base or reversal formation before initiating fresh positions.
Potential recovery
Kumar expected the corrective move to halt around the support confluence zone near ₹183, ₹177 and ₹174.
- Intraday low
- ₹184.15, down 6.3% from the previous close
- Previous close
- ₹196.60
- Opening price
- ₹196
- Monthly performance
- Down about 8% so far that month
- Year-to-date performance
- Adani Power up 26%; Sensex down 16%; BSE Power index up 6%
- Patel's key support
- ₹182–₹183; a decisive close below could expose the stock to a move toward ₹170
- Kumar's support levels
- ₹183, ₹177 and ₹174