RELIANCE POWER LTD
Open—54.48---High---60.50---Low---52.17—Close—58.10 on 30.5.2025.
Support:55.10/53.64/49.73/48.50/46.85/43.85/42.60/41.26/40/37.-----
Resistance:60/65.20/66.85/68.50/75.20/76.20/78.90/81.95/83.10/87.80/90.30/92.30/98.50/102.80/106.70/110.90/113.30/122.60/133.25.------
ATH: ---331.75 made on 11.2.2008.
ATL: ---- 1 made on 26.3.2020.
(Bold and underlined figures are most important)
Technically it has shaped up well and may be preparing for a big up-move in coming times, provided it holds its most important range of 53.64—42.60 on the closing basis. Please note that if it holds 53.64 then the chances of up-move will be alive in the year 2025, break & sustained close below this point will be an alert sign and break & sustained close below 42.60 can drag it down to lower levels.
Please note that it will give a massive upside breakout if it moves above 65.20 & 66.85 and sustain on the closing basis and then it may have an accelerated up-move, if it moves above 78.94 and sustain on the closing basis then it may gain good up-momentum and then the broad upside target could be 127.16---166.13---205.09---253.31---265.20, it may correct at any of these points and then may resume the up-move again or may halt the rally for a while and move sideways, but if it moves above 265.20 and sustain on the closing basis then it can retest its all-time high of 331.25 or may go beyond it also , it looks good for a big up-move but this process may take a long time, which may please be noted.
REMARKS:-In view of the above
observation for save investors stock can be bought at CMP and on decline near 53.64 with a stop loss of 51, but aggressive traders can buy on
further decline also near 43 with a
strict stop loss of 40. The stock has
potential to double or more in the 15—18
month’s time frame or earlier.
NOTE:--THE CONCERN IS THAT
PROMOTERS STAKE IS LOW AT 25%
NOTE: - It is a technical assessment of the stock as of now, the
technical interpretation changes with the price movement and time, therefore it
has to be reviewed at regular intervals, furthermore investors are advised to look into
fundamental, financial details of the company because that too keeps on
changing and last but not the least management perception for the future of the
company before taking investment decision.
Disclaimer:-The view expressed here are solely of the
author and he is not at all responsible in any way for the outcome of the trade
you enter based on the above view. It is for the educational purpose.
Kindly note that make your cost your stop loss in favorable trade
and then trail it as the price move up/down to gain maximum profit and avoid
losses. Use support and resistance levels as entry, exit, target and trailing
stop loss points. DO NOT TRADE WITHOUT STOP LOSS.
Note: Price stated
here are of spot market.
Contact me for strategic guidance to enter and
exit trade.
Thanks
Narendra Kumar Surana
Mobile—8240951127/9831313654.
