Today's trading saw Nifty close above 16,000 and Sensex gain 344 points despite volatility. The Auto Index, FMCG and Capital Goods indexes helped the Nifty conclude the day at 16,049.20 level, up 110.55 points or 0.69 per cent from its previous close. However, the outcome of the global indices, particularly the US markets, the dollar index, crude oil price, Q1 results and in addition to the Fed policy, may be detrimental to the domestic equity markets in the coming week. Here are the two Adani group stocks that reached a new 52-week high in trade today, despite extreme volatility as India's NSE Nifty 50 Index has dropped roughly 13 per cent from its all-time high.

Adani Enterprises Limited

After touching a new 52-week-high today of Rs2,422.95, the shares of Adani Enterprises closed today at Rs2,401.00 level up by 0.75% from its previous close of Rs2383.10. The previous 52-week-high for the stock is Rs2,420.95 which was set on 27-April-2022. The stock had touched a 52-week-low of Rs1,332.75 on 19th July 2021 which indicates that at the current price level the stock is trading 80.15?ove the 52-week-low. On the NSE the quantity traded was 11,69,788 shares and in trade today the stock touched an intraday high of Rs2,422.95 and an intraday low of Rs2,377.00. The stock has gained 72.05 per cent in a year, and YTD, has climbed 39.82 per cent so far in 2022. The stock is now trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. Recently, the brokerage firm Ventura has given a buy rating on the shares of Adani Enterprises for a price target of INR 2,821 per share (FY25 EV/EBITDA of 21.9X).

Adani Transmission Limited

After hitting a new 52-week-high of Rs3,015.00, the shares of Adani Transmission closed today at Rs2,885.20 level down by 0.14% from its previous close of Rs2889.15. The previous 52-week-high of the stock was Rs3,000.00 which was made on 12-April-2022 and today's traded volume for the stock was 7,52,850 shares on the NSE. The stock had touched a 52-week-low of Rs871.00 on 28th July 2021 which indicates that at the current level of Rs2,885.20 the stock is trading 231?ove the 52-week-low level. In the last year, the stock has risen from Rs1016.55 level as of 16th July 2021 to the current level which indicates a multibagger return of 183.82% in that period. The stock has gained 66.67 per cent YTD so far in 2022. The stock is trading above the 5-day, 20 days, 50-day, 100-day, and 200-day moving averages at the current market price.

Commenting on the performance of Nifty today, Amol Athawale, Deputy Vice President - Technical Research of Kotak Securities Ltd, said “Markets were in a fall zone for quite some time, so today's bounce back came as a major relief to investors. Recovery in global markets helped investors to take exposure to automobile & banking stocks, which retreated sharply in recent sessions. However, markets may remain volatile on worries of further rate hikes by the US Fed and unabated FPI outflows. Technically, on weekly charts the Nifty has formed an inside body Hammer kind of formation which indicates indecisiveness between the bulls and bears. For the bulls, the 50-day SMA (Simple Moving Average) and 16000 would act as a trend decider level. A strong possibility of a fresh uptrend rally is likely, if the index trades above 16000-16050, which is a short term resistance zone. Above the same, the index could rally till 16200-16300. On the flip side, a close below 50-day SMA or 15850 could trigger a fresh round of selling. Below which the index could slip till 15700-15650."