Reliance Power Share Price Target 2023

Reliance Power share price target 2022 and technical analysis are explained below. Reliance Power has been in a consistent downtrend for years now, many investors and traders have recently gained interest in stock for some interesting developments in price action, in this article we will look at what the technical picture looks like and what the future possibilities are.

Table of Contents

• Reliance Power Share Price Target 2022 on Weekly Charts
  • 1. Chart Pattern Identification-
  • 2. Support Level
  • 3. Resistance Level
  • 4. R Power share price target 2022 table
  • Live Technical Analysis of Reliance Power
  • Reliance Power Fundamental Analysis
  • 1. Key Financial Ratios
  • 2. Key Performance Matrix
  • 3. Fundamental Overview Reliance power
  • Conclusion
• FAQ

Sector: Utilities

Industry: Electric Utilities

Employees: 14872

Reliance Power Ltd. is a holding company that engages in power generation. The firm’s projects include coal-based, gas-based, solar power, wind power, and hydroelectric power plants. The company was founded by Dhirubhai Hirachand Ambani on January 17, 1995 and is headquartered in Mumbai, India.

Reliance Power Share Price Target 2022 on Weekly Charts

1. Chart Pattern Identification-

Rounding Bottom long term bullish reversal

2. Support Level

The very important support level is around 9.40 to 11, which has already been tested twice, and any breakout below this level may result in new short positions and the share price falling to an all-time low.

3. Resistance Level

Price level 24 – 25 is acting as a strong resistance from which the previous selling was initiated, and any price move above this level will be a significant buying opportunity for reliance power share.

4. R Power share price target 2022 table

Buying Side

Selling Side

On weekly charts, there was a rounding bottom formation, followed by significant volume, which pushed prices higher, but this momentum faded at the crucial resistance price band of 24 – 25, which is the major level for the stock in the near future.

Since prices are moving in a wide range of 11 to 21, this price consolidation is forming a rectangle chart pattern, and the breakout from this rectangle chart pattern could be in either direction, it is prudent to continue monitoring developments and price action, and trades should only be placed after the breakout from levels in the direction of the breakout.

Live Technical Analysis of Reliance Power

Reliance Power Fundamental Analysis

1. Key Financial Ratios

2. Key Performance Matrix

3. Fundamental Overview Reliance power

Conclusion

In my opinion, there haven’t been any significant developments in terms of technical analysis; the rounding bottom chart pattern did provide a positive sentiment, but the stock was unable to break the strong resistance level of the 24 – 25 price band; however, if price action suggests a structure near this level and momentum breakout occurs with high volume, the stock could provide an upside move of at least 80% to 90%.

Until then, the road remains empty, with no traffic and little excitement.

FAQ