Adani Ports Shares To Test ₹1,400 Next? SEBI RAs Urge Caution Near Key Resistance Levels

While analysts remain optimistic on Adani Ports, they highlight key resistance levels and recommend a wait-and-watch strategy for new investors until a decisive breakout.

Adani Ports and Special Economic Zone (APSEZ) shares surged over 5% in trade on Friday after the company reported strong March quarter numbers and an optimistic full-year outlook that boosted investor confidence.

Several brokerages retained their Buy ratings. On Stocktwits, a host of SEBI-registered analysts highlighted important levels to watch. 

Prameela Balakkala's analysis notes Adani Ports faced resistance at ₹1,288 (200-day moving average). A break above ₹1,290 may signal bullish momentum, but significant call writing at ₹1,300 (1.9M open interest) indicates strong resistance, contributing to a recent pullback after failing to hold above that level. 

She identifies ₹1,200 as a strong support area, suggesting it could be an ideal entry point if a reversal is confirmed. 

The Relative Strength Index (RSI) is neutral to slightly bullish (around 56). According to Balakkala, investors should monitor breakouts with increased volume and open interest changes for clearer direction. 

According to her, key levels to watch include maintaining a bullish bias above ₹1,290, with upside targets at ₹1,400 and ₹1,520. Support is expected in the ₹1,200–₹1,220 range.

Meanwhile, Priyank Sharma observes that Adani Ports is exhibiting a sideways bias, with price action confined within well-defined ranges. 

Although it delivered notable returns, with the price rallying approximately 23.14% from its April low, Sharma cautions that a sustained breakout beyond the November range is necessary before considering a significantly bullish stance on the stock. 

He recommends a hold strategy for existing investors while advising new investors to wait for a clear breakout above the November range — specifically above ₹1,332 — which could quickly propel the stock toward ₹1,414.90. 

Without such a breakout, the stock is likely to remain range-bound, and no buy recommendation is given unless the price retests the lower end of the range near ₹1,142 or the November low, where attractive buying opportunities may emerge.

And Financial Sarthis pegged immediate resistance at ₹1,302, with a possible breakout range of ₹1,340–₹1,350. Near-term support is seen at ₹1,250.

Data on Stocktwits shows retail sentiment has flipped to 'extremely bullish' from 'neutral' a week ago.

Adani Ports shares have gained 4% year-to-date (YTD).

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