Adani Power shares up 5.0% as Nifty gains.

Shares of Adani Power Ltd. gained 5.0 per cent to Rs 303.55 in Wednesday's trade. It hit a high of Rs 303.55 and low of Rs 291.0 during the session.

On the technical charts, the 200-DMA of the stock stood at Rs 303.71, while the 50-DMA was at Rs 326.98. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

The stock traded below the signal line of momentum indicator moving average convergence divergence, or MACD, signalling a bearish bias on the counter. The MACD is known for signalling trend reversal in traded securities or indices. It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the 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 stand at 49.92.Traditionally , a stock is considered overbought when the RSI value is 70 and oversold when it is below 30.

The return on equity (ROE) foe the stock stood 89.48 per cent while the Retuen on Capital Employed(RoCE) is a financial ratio that determine company's profatibility and the efficiency of capital use, while the RoE is measure of profitability of a businessin relation to the equity.   

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