NeeteshJain
Long

Rpower - At verge of Reviving

BSE:RPOWER   RELIANCE POWER LTD
It has been observed on the daily chart that the price action rebound on the strong support zone of 38-39 previously and now, it has done it. It is indicating a good buying at those levels and now it shall boost this rally further up.
As per fundamentals, It is trading a low P/E and below its book value which is another good value addition for buyers to initiate in it. Now, if it stays above 39 levels then it shall further rally up from current levels.

Short Term View,
T1- 42
T2 - 44
SL- 39

Longterm:
T1- 50
SL 36
Trade active
Trade active
Trade closed: target reached: Target 1 reached successfully. Regards
Trade active: Now, looking strong for target 2
Comment: Traders who missed the rally can re-enter at current levels for another bigger rally. Thanks
Trade active
update please..
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update?
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@yashmatta, It is still at the support zone as indicated on the chart at 38.50-39 levels, once it closes below the support zone then it shall further move down to 37.5 to 36 Levels. If it does not close below the support zone then the accumulation continues until we see a strong big green candle with minimum wick. Thanks
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updates ?
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what happen with kellton tech?
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NeeteshJain tejassukale
@tejassukale, It is just a healthy correction and the uptrend is still intact. Now, it is running buy on dips story. Thanks
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Updates ?
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@yashmatta, The trade setup is active and it shall go up higher anytime. Thanks
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I am waiting to enter at 47 ..... and 51 for breakout
+1 Reply
@chayaa, I believe this time it will break above 46 resistance levels. Thanks
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