After being in a downtrend since June 2024, Adani Green is showing clear signs of a potential trend reversal. Since March 2025, the stock has been building a bullish base by forming a constructive pattern of Higher Lows. However, this new uptrend is now facing its most significant test.
Today's Battle at Resistance
The stock's upward progress has been blocked by a major horizontal resistance trendline. Today's session (Wednesday, October 29, 2025) saw a powerful attempt to break this level:
- The stock surged by an impressive +10.79%.
- This move was backed by a very strong volume of 36.23 million shares.
Critically, despite the significant buying pressure, the stock was unable to close above this key resistance level, indicating that sellers are still actively defending this zone.
A Mixed Technical Picture
The technical indicators paint a picture of a new uptrend that is still fighting to confirm itself:
- Bullish Signals:
- The RSI (Relative Strength Index) is in a rising trend across the Monthly, Weekly, and Daily timeframes.
- A long-term SMA Golden Crossover has been in effect for the past month.
- Lagging/Cautionary Signals:
- The short-term EMAs have not yet formed a bullish Positive Crossover (PCO) state on the Daily and Monthly charts. This suggests the new uptrend is still in its early and unconfirmed stages.
Outlook and Key Levels to Watch
The stock is at a classic "prove it" moment. The battle at this horizontal resistance is the key.
- Bullish Scenario: A decisive, high-volume close above the resistance trendline is required to confirm the breakout and validate the new uptrend. If this occurs, the path could open for a move toward the *₹1,445 level.
- Bearish Scenario: If today's move was a "bull trap" and momentum fades, a rejection from this level could send the stock back to test its recent support, with a potential downside to ₹995.
Given that the stock is attempting to reverse a significant downtrend, this resistance is a major hurdle. Caution is warranted until a successful breakout is confirmed with a strong daily close above the line.
Today's Battle at Resistance
The stock's upward progress has been blocked by a major horizontal resistance trendline. Today's session (Wednesday, October 29, 2025) saw a powerful attempt to break this level:
- The stock surged by an impressive +10.79%.
- This move was backed by a very strong volume of 36.23 million shares.
Critically, despite the significant buying pressure, the stock was unable to close above this key resistance level, indicating that sellers are still actively defending this zone.
A Mixed Technical Picture
The technical indicators paint a picture of a new uptrend that is still fighting to confirm itself:
- Bullish Signals:
- The RSI (Relative Strength Index) is in a rising trend across the Monthly, Weekly, and Daily timeframes.
- A long-term SMA Golden Crossover has been in effect for the past month.
- Lagging/Cautionary Signals:
- The short-term EMAs have not yet formed a bullish Positive Crossover (PCO) state on the Daily and Monthly charts. This suggests the new uptrend is still in its early and unconfirmed stages.
Outlook and Key Levels to Watch
The stock is at a classic "prove it" moment. The battle at this horizontal resistance is the key.
- Bullish Scenario: A decisive, high-volume close above the resistance trendline is required to confirm the breakout and validate the new uptrend. If this occurs, the path could open for a move toward the *₹1,445 level.
- Bearish Scenario: If today's move was a "bull trap" and momentum fades, a rejection from this level could send the stock back to test its recent support, with a potential downside to ₹995.
Given that the stock is attempting to reverse a significant downtrend, this resistance is a major hurdle. Caution is warranted until a successful breakout is confirmed with a strong daily close above the line.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.