The outlook for the stock of Adani Energy Solutions (₹1,630.10) remains positive. Immediate support levels are at ₹1,570 and ₹1,435. A close below the latter will change the medium term outlook to negative. 

On the other hand, the stock finds an immediate resistance at ₹1,683. A close above this will reignite fresh rally in the stock. But broadly, we expect the stock to move in a narrow band in the short term.

F&O pointers: The August futures of Adani Energy Solutions closed at ₹1,628.30, which is at a discount to the spot price of ₹1,630.10.

The contract witnessed unwinding of long positions during the last 10 days as the stock fell from ₹1,710 to ₹1,625. Option trading indicates that the stock could move between ₹1,600 and ₹1,700.

Strategy: Consider bull-call spread on the stock by buying 1640-call and simultaneously selling 1660-call. As these options closed with premiums of ₹40.90 and ₹32.70 respectively, the net cost for this strategy would be ₹8.20/lot or ₹5,535.

The maximum loss would be the premium paid, i.e., ₹5,535, and that will happen if Adani Energy Solutions remains below ₹1,640 on expiry. On the other hand, a profit of ₹7,965 is possible, if the stock closes above ₹1,660. 

Follow-up: We advised going long on NTPC. Contrary to our expectations the stock moved with a negative bias. However, we advise traders to hold the position with a mentioned stop loss at ₹341.

Note: The recommendations are based on technical analysis and F&O positions. There is a risk of loss in trading

Published on August 8, 2026