Reliance POWER - Trading inside ChannelStock is trading inside a nice channel. Let's see how it goes.
RPOWER trade ideas
RPower: On The Eve Of Q4 EarningsReliace Power has just reversed after touching the supply line drawn in the chart connecting the two highs of 61.25 and 56.45.
The stock of RPower, before breaching out of the supply line and start new bull rally, is trying to test the patience of the investor who have been invested in the stock since the Initial Public offerings or of those who might have invested in the stock on the higher price after the listing of the stock on Indian bourses.
The stock may try to touch the upper resistance/supply line before it starts moving further down.
Medium Term BreakoutRPOWER has given medium term breakout at 48.75 trading in upward channel watch near 48. can go long for target 53+ stop loss close below 47.
RPOWER - STARTING A NEW WAVE 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
RPower - Don't play with power at 45We all know what happens if you play with power- you won't need any enemy. From the previous post 5 months ago -H&S -Looks weak below 50- It was an awesome fall to 38 lows & we also enjoyed.
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.
Why 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.
Trading Strategy
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
RPOWER rejecting from support after retracementRPOWER rejecting from support after retracement in 1D chart.
Entry @ 44
Stoploss @ 43
Target @ 47
Reliance Power - Potential Gartley PatternPotential Gartley pattern on the verge of completion.
Enter only on bounce back around the blue entry point .
Once bounce back is confirmed we can expect the following targets:
T1: 43.4
T2: 42.3
T3: 41.2
SL: 45.25
ONLY FOR EDUCATIONAL PURPOSE ....In R POWER their is a rising wage in falling market which is a bearish reversal sign , which indicate that trend will be continue in down side .
ONLY FOR EDUCATIONAL PUPOSE ....In R POWER their is a rising wage in a falling market which is indicate that the trend again reverse in down side .
Rpower Breaking Crucial Support 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
RPower- Run away with profits from 54 to 38- ClickedCurrent Price@40.55- 28th Nov2016
It gave 200% down target of the head to neckline distance. Take it & run away from the market.
Looking bad below 50
Rpower - Breaks Support 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
RPOWER - BULLISH ABCD PATTERN SETUPAfter 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
RPOWER - H&S- Looks weak below 50 markBelow 50 Mark- There could weakness in Rpower - Head & Shoulder pattern gives a target of 43-44 zone.
