NeeteshJain

RPOWER - BULLISH ABCD PATTERN SETUP

Long
NSE:RPOWER   RELIANCE POWER
After the price action broke out from a channel breakout and descending triangle as marked in purple and blue respectively. Now the price action went down to 46 levels where it completes a Bullish ABCD Pattern. Now the price action shall move towards 50 levels which is a 38.2 retracement level of A-D leg of the said pattern.

Target: 50.10
Stoploss: 46
Risk Reward: 1:3
Trade active: Shall reach targets by tomorrow.