Adani Enterprises Rally Continues: SEBI Analyst Sees Short-Term 'Buy-On-Dip' Setup

Shares of Adani Enterprises surged more than 3% on Monday, adding to last week's gains after the country's securities regulator dismissed two major claims by US short-seller Hindenburg Research against the conglomerate and its billionaire owner Gautam Adani. It was the top Nifty gainer at the time of writing. 

SEBI last week said it had completed its review of allegations of stock price manipulation and failure to disclose related party transactions, which it had been investigating for the past two years. 

However, according to a Reuters report, the regulator continues to investigate more than a dozen other allegations, including whether Adani Enterprises, Adani Ports, Adani Energy, and Adani Power had wrongly classified certain shareholders as public. 

Daily Chart And Breakout

SEBI-registered analyst Sudhansu Sekhar Panda of Bluemoon Research & Financial Services said that on the daily chart, Adani Enterprises formed a W-pattern breakout above ₹2,430 last Friday, with the stock rising to ₹2,579 on the same day, driven by the SEBI news.

Multi-Month Rectangle Formation

Panda observed that over the last 10 months, from November 2024 to September 2025, the stock has been moving within a range of ₹2,680 to ₹2,050. 

He described this as the formation of a multi-month rectangle at the bottom zone.“Each time the stock tried to sustain above the higher level, it was rejected and fell to trade or rotate in a range,” he said.

Short-Term And Long-Term View

According to Panda, Adani Enterprises often presents buy-on-dip setups for short-term traders who are strong in technical analysis. 

However, he added that for any bigger upside opportunity, investors need to watch the ₹2,670–₹2,680 zone. Sustaining above that level could open more upside momentum, while the major support remains around ₹2,050.

What Is The Retail Mood?

On Stocktwits, retail sentiment was 'bullish' amid 'high' message volume.

Adani Enterprises' stock has risen 1.8% so far in 2025.

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