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Adani Power Showing Signs of Strength After Key EMA BounceNSE:ADANIPOWER has recently found support near its 20-day EMA on the daily timeframe, indicating that the ongoing bullish trend remains intact and that the stock may be preparing for its next leg higher.
Adding to the positive setup, the sectoral benchmark, NSE:CNXENERGY , has also taken support at its 20-day EMA on the daily chart, providing further confirmation of strength across the energy sector and supporting the top-down approach .
The Weekly RSI (14) stands at 74.45, remaining above the 70 mark and reflecting strong bullish momentum. On the daily timeframe, the RSI has consistently found support around the 60 zone, suggesting a bullish range shift and reinforcing the prevailing uptrend. The stock is also trading at a rising short-term trendline support , which further strengthens the bullish structure.
Historically, the 20-day EMA has acted as a reliable dynamic support level for the stock , with previous pullbacks to this moving average often followed by fresh upward moves. In addition, the 20-day, 50-day, and 200-day EMAs continue to slope upward , highlighting the strength of the broader trend.
As long as the stock sustains above ₹225, NSE:ADANIPOWER could potentially retest its previous all-time high of ₹254.20 and extend the rally further. At the current price of ₹232.52, the setup offers an attractive reward-to-risk ratio of approximately 3:1 , with a stop-loss placed at ₹225 on daily closing basis and an initial upside objective near ₹252.
Key Support Levels: ₹229.50, ₹227, ₹225
Targets: ₹252, ₹260, ₹270
Disclaimer:
Investments in the securities market are subject to market risks, read all related documents carefully before investing. Securities quoted here are exemplary, not recommendatory. I am not a SEBI registered financial advisor, please consult your financial advisor before investing. Please note that I do not guarantee any assured returns for the securities quoted here.
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Hari Narayan N
Chartered Market Technician (CMT – All 3 Levels Cleared) 
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Wockhardt Limited (WOCKPHARMA)1. Current Price Action & Trend
Price Status: The stock closed at 1,938.00 INR, up +0.74% (+14.20) for the session.
Recent Peak: The chart highlights a massive bullish run extending from May through early June, where the price aggressively spiked to a peak near 2,422.30 INR.
Current Phase: Following that sharp rally, the stock is currently undergoing a healthy consolidation / minor correction phase, pulling back from its recent highs to find stability.
2. Key Support & Resistance Levels
Looking at the plotted horizontal lines and moving averages on the chart, several critical levels are in play
3. Volume & Momentum
Volume: The daily volume stands at 1.27M, which is notably lower than its 30-day average volume of 4.00M. This drop in volume during a pullback typically indicates a lack of aggressive selling pressure, suggesting the correction is a standard cooling-off period rather than a trend reversal.
Overall Performance: Despite the weekly dip of -6.45%, the medium-term momentum remains exceptionally strong, with a 49.31% return over the last 3 months and 34.77% Year-to-Date (YTD).
Technical Summary
The chart reflects a classic "high-pole" consolidation. After a powerful breakout, the stock is taking a breather. As long as it holds above the 1,908–1,821 INR support cluster, the underlying bullish structure remains intact for swing traders looking for a potential continuation bounce.
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Dr. Reddy’s Laboratories – Trendline Breakout Watch🔍 Chart Overview
Dr. Reddy’s has been trading inside a broad consolidation range after a prolonged correction, while respecting a descending trendline from ~₹1,400 levels.
Price is now approaching a key resistance confluence near ₹1,330–₹1,350, making this a crucial breakout zone.
📈 Key Observations
✅ Descending Trendline Resistance
Multiple touches since early 2025
Current price (~₹1,336) sitting just below resistance
➡️ Breakout attempt in progress
✅ Range Structure
Price oscillating between ₹1,200 – ₹1,350
Current move is toward range high resistance
✅ Moving Average Alignment
Price above short-term MAs
Testing 100/200 SMA zone → key trend reversal signal if sustained
✅ RSI Strength
RSI ~60 → bullish momentum building
No overbought signal yet → room for upside
🚀 Trade Setup
✅ Bullish Breakout Setup
Entry: Above ₹1,350 (strong close + follow-through)
Targets: ₹1,400 / ₹1,450 / ₹1,500
Stop Loss: Below ₹1,280
❌ Rejection Scenario
Failure near resistance → continuation of range
Downside targets: ₹1,280 → ₹1,220 
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Apollo Breakout📈 Trend Structure
Stock is in a medium term uptrend forming higher lows since the Feb bottom (~₹6,800).
Price has now rallied back into a well defined historical supply zone around ₹8,000–₹8,100, which has rejected price multiple times earlier.
Current move looks like a range to range rally, now testing the upper boundary.
🧱 Key Levels
Resistance
₹8,000–₹8,100: Crucial resistance zone (previous highs + supply)
₹8,350–₹8,500: Breakout targets if resistance is convincingly cleared
Support
₹7,600–₹7,650: Immediate demand / pullback support
₹7,200–₹7,250: Swing support
₹6,800: Trend invalidation level
📊 Price Action Insight
Price reached resistance with a strong bullish candle, followed by mild rejection suggesting profit booking at supply.
No breakdown yet → structure remains constructively bullish. 
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