OUR RECOMMENDATION
| CMP# | 26.5 |
| Idea | SELL |
| Sell Range | 27.2 – 25.85 |
| Target | 23 – 21 |
| StopLoss* | 28.45 |
| Duration | 35 – 40 Trading Sessions |
| Potential Return^ | 13 – 21% |
| CMP# | Idea | Sell Range | Target | StopLoss* | Duration | Potential Return^ |
| 26.5 | SELL | 27.2 – 25.85 | 23 – 21 | 28.45 | 35 – 40 Trading Sessions | 13 – 21% |
# CMP on Jan 31, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 25.
^ The returns are calculated based on CMP#
COMPANY OVERVIEW
Reliance Power Limited together with its subsidiaries engages in the generation and distribution of power in India. Incorporated in 1995, this electric utilty company has two operating divisons: Power Generation and Resource. The power generation generates electricity through thermal power and renewable sources and resource divisons develops and constructs coal mines in India and Indonesia. In Q3FY19, Reliance Power posts 32.59% decline in net profit at Rs 188.27 crore against Rs 279.31 crore in the year-ago period; revenue down 15.81%
| Stock Data | |
| NSE Code | RPOWER |
| Sectoral Index | Nifty Infra |
| 52W High | 48.95 |
| 52W Low | 23.1 |
| Face Value | 10 |
TECHNICAL OBSERVATIONS (WEEKLY)
- The consolidation phase of the last few weeks has resulted in the formation of a ‘Symmetrical Triangle’ pattern on the weekly chart.
- The stock has broken out below the Symmetrical triangle pattern triggering a fresh bearish trend.
TECHNICAL OBSERVATIONS (DAILY)
- Last few days stock is trading below the 15 days Moving Average and recent closing near the Lower Bollinger Band showing confidence of my view.
