Reliance Power Limited Stock Forecast

Red day on Wednesday for Reliance Power Limited
(Updated on Apr 24, 2024)

RPOWER.NS Signals & Forecast

The Reliance Power Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹27.70. On a fall, the stock will find some support from the long-term average at approximately ₹26.42. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Thursday, April 04, 2024, and so far it has fallen -17.24%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Reliance Power Limited stock

Reliance Power Limited finds support from accumulated volume at ₹27.35 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 ₹0.85 between high and low, or 3.09%. For the last week, the stock has had daily average volatility of 3.60%.

Our recommended stop-loss: ₹25.87 (-6.26%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 13 days ago.)

Trading Expectations (RPOWER.NS) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Reliance Power Limited to open at ₹27.82, and during the day (based on 14 day Average True Range), to move between ₹26.15 and ₹29.05, which gives a possible trading interval of +/-₹1.45 (+/-5.24%) up or down from last closing price. If Reliance Power Limited takes out the full calculated possible swing range there will be an estimated 10.49% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹27.35 (0.91%) than the resistance at ₹29.80 (7.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Reliance Power Limited stock A Buy?

Reliance Power Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.967 Hold/Accumulate Unchanged

Predicted Opening Price for Reliance Power Limited of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.