RPOWER -Cup and Handle -Breakout -Wkly
Reliance Power Ltd. (NSE: RPOWER):
Cup and Handle Pattern: It shows a classic cup and handle breakout, a bullish continuation pattern. The neckline resistance of INR 34.40 was broken, pushing the stock higher.
Target: After this breakout, the stock is targeting the next major resistance at INR 68.13.
Volume: The rise in volume confirms the strength of the breakout.
Support: The level of INR 34.44 will now serve as a key support.
The charts show potential for further gains, but short-term traders should monitor for overbought conditions and pullbacks at key resistance levels.
Cup and Handle Pattern: It shows a classic cup and handle breakout, a bullish continuation pattern. The neckline resistance of INR 34.40 was broken, pushing the stock higher.
Target: After this breakout, the stock is targeting the next major resistance at INR 68.13.
Volume: The rise in volume confirms the strength of the breakout.
Support: The level of INR 34.44 will now serve as a key support.
The charts show potential for further gains, but short-term traders should monitor for overbought conditions and pullbacks at key resistance levels.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.