Reliance Power India to target 57.3 after crossing resistance
Weekly chart, Reliance Power stock is trading in an expanding triangle.
After crossing the resistance (blue) line at around 33.1, the target will be 57.3 - passing through some intermediate resistance levels.
Stop loss should be considered after closing below the dashed red line.
Technical indicator MACD is positive, while RSI is in the over-bought zone - which usually indicates a correction is due.
After crossing the resistance (blue) line at around 33.1, the target will be 57.3 - passing through some intermediate resistance levels.
Stop loss should be considered after closing below the dashed red line.
Technical indicator MACD is positive, while RSI is in the over-bought zone - which usually indicates a correction is due.
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