Reliance Power Limited Stock Forecast
Reliance Power Limited stock price up 0.675% on Friday
(Updated on Jun 14, 2024)
The Reliance Power Limited stock price gained 0.675% on the last trading day (Friday, 14th Jun 2024), rising from ₹31.11 to ₹31.32. During the last trading day the stock fluctuated 6.25% from a day low at ₹30.26 to a day high of ₹32.15. The price has risen in 7 of the last 10 days and is up by 27.63% over the past 2 weeks. Volume fell on the last day by -12 million shares and in total, 14 million shares were bought and sold for approximately ₹441.23 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹32.79 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.41% during the next 3 months and, with a 90% probability hold a price between ₹22.86 and ₹32.00 at the end of this 3-month period.
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RPOWER.BO Signals & Forecast
The Reliance Power Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹28.33 and ₹26.31. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -0.666%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Reliance Power Limited stock
Reliance Power Limited finds support from accumulated volume at ₹31.11 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹1.89 between high and low, or 6.25%. For the last week, the stock has had daily average volatility of 6.71%.
Our recommended stop-loss: ₹30.25 (-3.41%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 46 days ago.)
Trading Expectations (RPOWER.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Reliance Power Limited to open at ₹31.24, and during the day (based on 14 day Average True Range), to move between ₹29.85 and ₹32.79, which gives a possible trading interval of +/-₹1.47 (+/-4.71%) up or down from last closing price. If Reliance Power Limited takes out the full calculated possible swing range there will be an estimated 9.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹31.53 (0.67%) than the support at ₹31.11 (0.67%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Reliance Power Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.877 Buy Candidate Unchanged
Predicted Opening Price for Reliance Power Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹31.24 ( 0.245%) | ₹31.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RPOWER.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 33.13 | 5.79% |
| R2 | 32.41 | 3.48% |
| R1 | 31.97 | 2.06% |
| Price | 31.32 | |
| S1 | 30.52 | -2.55% |
| S2 | 30.08 | -3.97% |
| S3 | 29.35 | -6.28% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 33.43 | 6.74% |
| R2 | 32.58 | 4.02% |
| R1 | 31.53 | 0.670% |
| Price | 31.32 | |
| S1 | 31.11 | -0.670% |
| S2 | 28.67 | -8.46% |
| S3 | 24.59 | -21.49% |
RPOWER Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 19, 2015 | Nov 19, 2015 | Nov 19, 2015 | ₹1.00 | 2.07% |
FAQ
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