Rpower is showing positive divergence on daily chart. If it is a parallel channel, then stock should move up towards 8.30- 8.70 zone. Trader can buy at 5.60-5.80 with stop loss below 4.20 for target of 8.70. It it gives close above 9, then one can expect rally towards 13.
Note : We have buy position in RPower.
I think, RPOWER has been doing a large WXYXZ since ATH. I could be very well wrong though. Its just my opinion. Found a nice complex corrective structure throughout the movement. Ofc, you can also find an impulsive one , downwards which would then mean mayhem! But i'm not too confident with that.
Also, if you look at the big descending wedge, you can see that it...
Rpower
Cmp 30.90
- on an hourly chart the stock is trading near channel support
- channel trade set up target is around 35-36 odd levels
- stop loss if closing below 29.75
Risk :: Reward ratio looks favorable to go long
Take care & safe trading...!!!
The stock has nicely formed Wolfe Wave with in parallel Channel. One can trade the stock for a good Risk to Reward Ratio. One can trade the Future as under or make suitable strategy using options as the stock is active in Options also
Entry 34.30
SL 32.20
Target 39.80
RR 5.50
Disclaimer : All ideas and comments are my personnel view. Please take...
Macd line crossover, stochastic turns from oversold region in weekly chart then Macd line crossover in daily chart. These indicators will help to breakout the triangle pattern. Can buy at CMP for the first target range(47-50). If closes above 49.5, it may reach the second target range of (60-63).
Target: 47-50
Stoploss: 38.60 on closing...
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...
It is been observed that the price action is consolidating in a sideway correction and now, it has formed a bullish candlestick pattern indicating a bullish move ahead. It shall be a starting of another new wave or rally to upside.
Short Term:
Target: 44.50
Stoploss: 42.50
Mid-term:
Target: 50
Stoploss: 42
Regards
It is been observed on daily and weekly chart that the price action breaks and closes below 40 price levels which was acting as crucial support levels. Now, it shall further move down to the next support levels at around 35-33 levels with few weeks. Regards
Target: 35
Stoploss: 41
Risk Reward : 1:2
It is been observed that the price action breaks below the previous support levels at 46.25 on daily chart, and now it shall move further down to next support levels.
Target: 44.80
Stoploss: 47
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
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