RELIANCE POWER LONGTERM INVESTMENTACTIVATED MY ENTRY LEVEL
Can enter at CMP @31.40
or wait for fall & enter @25.30
Targets - 38,50,65+
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Reliancepower
Reliance Power India to target 57.3 after crossing resistanceWeekly chart, Reliance Power stock is trading in an expanding triangle.
After crossing the resistance (blue) line at around 33.1, the target will be 57.3 - passing through some intermediate resistance levels.
Stop loss should be considered after closing below the dashed red line.
Technical indicator MACD is positive, while RSI is in the over-bought zone - which usually indicates a correction is due.
Bullish Channel Formation in RPOWER: Buyback PotentialRPOWER has established an expanding channel, currently undergoing testing at the lower boundary. This presents a potential opportunity for a future buyback. We anticipate a price rebound towards the recent swing high observed on the daily timeframe.
RELIANCE POWER - WEEKLY CHART SETUPThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart).
Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves.
we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle.
Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price.
Keep it simple, keep it Unique.
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Tradelikemee Academy
Most Infamous Stock on the street is giving the best opportunityWhen it comes to wealth destruction this particular stock has made records. Reliance Power NSE:RPOWER opening price on the day of listing was 341. Sadly, It never achieved the same price since 2009. In the Stock Markets - "Sabka Time aata hai". This stock has been in one-digit lines from April 2019 to June 2021. It has been consolidating nicely since then. The pattern that I observe is "Cup and Handle"
Definition of C&H as per Investopedia is as follows
A cup and handle is a technical chart pattern that resembles a cup and handle where the cup is in the shape of a "u" and the handle has a slight downward drift.
A cup and handle is considered a bullish signal extending an uptrend, and is used to spot opportunities to go long.
Hope you observe the same.
Pattern is indication to go long at current levels of 13.90 for a target of 30.
Disclaimer: I am not a SEBI registered IA. We are providing this blog only to help the retail investors and it is only for educational purpose. This blog shall not in any be taken as an investment advice. Viewers are expected to research on their own before Investing.
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