Post 38 lows in Nov2016- it has been little choppy upside till 47.15 & turned abruptly down looks like still something is pending as recent rise does not look good- whatever be the case -you should be careful not to trade with power if it fails to sustain above 44-45 zone & falls below 43.20.
It is the polarity level acted as resistance 2 times & same point acted as support 3rd time to give a push upside till 47.15 so one needs to be careful below 43.20 support -going below shall be a problem.
If Power fails to sustain above 44-45 & falls below 43.20 which will trigger downside for a couple of points in 41-42 zone & possibly turns upside for another choppy & tough trade- so this stock can give tough time to traders.
You would love to read the previous update
Rpower- Explosive 50-38 Downfall- Target Achieved
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ