RPOWER trade ideas
Triangle chart pattern check the description for levels Buy above 50.65
target for buy 64.70
sell below 40.80
target for the sell 27.01
SL for the buy 40
SL for the sell 64
RPOWERNSE:RPOWER is under consolidation with strong support at 37.70-38
CMP - 39.70
Buy in the range 37.70- 38.00
SL 37.30
Target - 40 / 43
RPOWER - Powering Up (BUY)After observing a breakout at the strong resistance level of 54 with high volume made this one a good buy. The resistance level of 54 was previously touched 4 times and the price action reversed. But in the recent breakout it made a clear breakout from that level, which makes it a clear winner and buyer.
Target: 57-58
SL: 53.30
Long Reliance PowerThose who remember 2008 crash will surely remember Reliance power IPO..It was after this IPO there was a crash in stock markets...After seeing high of 309.4 on 1st may 2008..stock has seen correction to the low of 33.05 on 03/08/2015...This stock can reach much higher levels in years to come....Buy on dips is strategy....
RPOWER - ASCENDING CHANNEL BREAKOUT IT HAS MADE A CLEAR BREAKOUT FROM THE PREVIOUS ON-GOING ASCENDING TREND CHANNEL, WHICH STATES A CHANGE IN TREND.
RISK-REWARD: 1:4
