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Reliance Power - VCP pattern in formation buy at Breakout - 33 Reliance Power is forming Potential Volume Contraction Pattern (VCP) a pattern made popular by Mr. Mark Minervini. Please refer pattern and the points plotted on the chart. Do Watch out this stock for VCP formation The chart has been plotted with the supporting information to indicate how it is forming VCP pattern. VCP pattern ideally should be traded on breakout i.e above 33, however considering it has forming a base, Aggressive investors can enter at 29, with strict stop loss of 27.10 About VCP pattern -- Imagine a stock's price going up and down like a rollercoaster. A VCP is when this rollercoaster starts to calm down, with smaller and smaller ups and downs. This creates a kind of "base" where the price hangs out for a while. What's happening? Calm before the storm: The stock is taking a breather after a big move. Smart money is buying: While the price is calm, big investors might be secretly buying up shares. The breakout: If the stock suddenly breaks out of this calm period and starts to go up strongly, it's a signal that the big investors are now selling their shares, pushing the price higher. So, what do you do? Wait for the breakout: Don't jump in too early. Buy after the breakout: Once the price breaks out of the base, consider buying if you think the stock will keep going up. Be careful: Like any investment, there's a risk the price might go down after the breakout. Disclaimer : Educational Content. Please do your own research !!
NSE:RPOWER
by jain_geetesh
Reliance Power Ltd. is showing signs of recoveryLong-Term Trend: The stock has been in a downtrend since 2017, with a significant dip around 2019. However, since mid-2021, the stock has shown signs of recovery, with a gradual uptrend. Volume Analysis: The volume has picked up during the recent uptrend, suggesting increased buying interest. Market Sentiment: News & Events: Keep an eye on any developments related to Reliance Power, such as changes in energy policies, company announcements, or broader market trends affecting energy stocks. Outlook: Reliance Power Ltd. is showing signs of recovery after a prolonged downtrend. The stock is currently testing a significant resistance level, and a breakout above this could lead to further gains. However, investors should be cautious and monitor key support levels.
NSE:RPOWERLong
by iampatilkishor
5
Stock in Downtrend: Reliance PowerReliance power has been in a downtrend for the past couple of sessions. MACD Crossover Below Signal Line. Currently trading near the key support zone of 43 levels, we can expect some upside movement if the 40 levels are retained in the weekly closure. Support levels: 38, 34, 29 Resistance: 44, 53, 60 Pros: The number of debtor days has decreased from 121 to 76.3. Cons The interest coverage ratio of the company is poor. Over the last five years, the company's revenue growth has been a dismal -0.76%. Over the last three years, the company's return on equity has been a pitiful -12.3%. Earnings include Rs. 554 Cr in other income.
NSE:RPOWER
by shanmurali
Comprehensive Analysis of Reliance Power Limited (RPOWER)Overview: Reliance Power Limited (RPOWER) has recently exhibited significant price action, forming a cup and handle chart pattern, which typically signifies a substantial bullish trend. Coupled with strong volume and positive indicators across multiple timeframes, the stock presents a compelling opportunity for investors. Cup and Handle Pattern: The cup and handle pattern on RPOWER's chart has matured over a span of more than 5 years, indicating a long-term bullish setup. A breakout from this pattern occurred recently, accompanied by substantial trading volumes, signaling strong buying interest. Elliott Wave Analysis: Elliott wave analysis suggests that the stock is potentially entering the 3rd wave of the 3rd wave, implying a powerful bullish move. This wave analysis further supports the bullish bias observed in the cup and handle pattern. Technical Indicators: Volume Confirmation: The retracement following the breakout maintained higher lows, with the cumulative volume of 10 candles lower than that of the breakout candle, indicating sustained buying pressure. Bollinger Bands: RPOWER is challenging the upper Bollinger Band on both daily and weekly timeframes, suggesting strong upward momentum. Trend Indicators: Positive crossovers on trend indicators across multiple timeframes signal a bullish trend. RSI and ADX: RSI supports the bullish bias, and ADX indicates increasing strength in the uptrend, with +DI confirming a bullish trend. Trade Strategy: Entry Points: Consider initiating long positions at current levels or on pullbacks, with potential entry points around the upper bands of the cup and handle pattern. Invalidation Level: Set the invalidation level below the last swing low, providing a clear risk management strategy. Price Targets: Upside price targets based on the cup and handle pattern suggest levels of 49+, 73+, and 99+ for Long Terms. Risk Management: Emphasize the importance of risk management techniques, including stop-loss orders and position sizing, to mitigate potential losses. Conclusion: Reliance Power Limited (RPOWER) exhibits a strong bullish setup, characterized by the cup and handle pattern, supported by volume analysis, Elliott wave analysis, and positive technical indicators across multiple timeframes. However, investors should conduct their own research and exercise caution, adhering to risk management principles. This analysis is for educational purposes only and does not constitute financial advice or trading recommendations. Disclaimer: This study is shared for educational purposes only and should not be construed as investment advice or trading tips. Investors should perform their own analysis and consult with financial professionals before making investment decisions. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:RPOWERLong
by RK_Chaarts
2