JPPOWER
JPPOWER -- POSITIONAL -- FLAG PATTERN BREAKOUT JPPOWER On Hourly chart today seen Flag pattern Strong Breakout at upside ..with strong volume, Todays sharp fall of nifty ..this stock seen good volume at long side.. RSI seen higher high at mid range and above WMA .. stock seen at strong trendline support at closing at upper channel line from this level stock can see good upside 20-30% ..1 month .
Technical support resistance explain in chart/
BUY JPPOWER @ 8.70
TARGET 10-11-12
STOP LOSS 7.50
** THIS IDEA IS FOR EDUCATIONAL PURPOSE ..trade at own risk. !
JP Power AnalysisPrice Range action in JP Power , Penny Stock to buy Now at 8.10 to 8.20 / Share. , Volume Topper with green signal.
PIVOT LEVELS
R1: 8.38 S1: 7.13
R2: 8.87 S2: 6.37
R3: 9.63 S3: 5.88
Reasons: Electricity demand in the country has increased rapidly and is expected to rise further in the years to come. In order to meet the increasing demand for electricity in the country. main role in JP Power is Coal thermal power Plants.
The future of the power sector looks bright as by 2026-2027, all India power generation installed capacity will be nearly 620GW, 38% of which will be from coal and 44% from renewable energy. Total installed Capacity as on April 2021 was 382GW of which 36.5% was generated from renewable sources.
Average of +4.7% consumption from oil, gas and coal fell from 90.6 to 89.7% and for renewables increased from 3.9 to 4.5%
Break out on Daily TF for JP Power #JPPOWER #Breakout JP power has given a Break out on Daily time frame & looks very strong on the weekly & Monthly time frame as well. The stock has given BO on Daily TF with a good volume. RSI is above 60 which is strong momentum.
Looks strong on weekly time frame as well. Resistance at 6.84, a monthly close above 6.84 will make a strong candidate, the monthly chart is under the C&H formation. A close above 6.84 will have a target of 8 followed by 10, both are strong resistance.
Disc : Invested, chart for educational purpose only. Not a reco for buy/Sell.
JPPOWER: Continuation of rally after a pullbackThe Stock has successfully completed a pullback. Now, it is expected to retest its recent high of INR 6.8 in short term.
The rationale for buy
- Price expansion accompanied by Volume expansion
- RSI bullish divergence
- Substantial reduction in debt leading to significant improvement in the capital profile (debt to equity ratio is now below 1). The cash flow from operation is now more than the interest obligation.
- Potential formation of Cup and Handle pattern
Positional View
If the stock crosses above the INR 6.6-6.8 range, it will lead to Cup and handle pattern. Breakout from there will lead to a potential rally till the target of INR 12.75. However, there is an intermediate resistance at INR 10.2
Please note this is not a recommendation, but my opinion. This is only for educational purposes.
Buy jppower, trend break and retestBuy opportunity in jppower now
Buy: now
Target1: 10
Target2: 50-100(for long term)
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For education purpose only. Iam not a sebi registerd expert. Trade at your own risk. Feel free to text & share your views.