Most Infamous Stock on the street is giving the best opportunityWhen it comes to wealth destruction this particular stock has made records. Reliance Power NSE:RPOWER opening price on the day of listing was 341. Sadly, It never achieved the same price since 2009. In the Stock Markets - "Sabka Time aata hai". This stock has been in one-digit lines from April 2019 to June 2021. It has been consolidating nicely since then. The pattern that I observe is "Cup and Handle"
Definition of C&H as per Investopedia is as follows
A cup and handle is a technical chart pattern that resembles a cup and handle where the cup is in the shape of a "u" and the handle has a slight downward drift.
A cup and handle is considered a bullish signal extending an uptrend, and is used to spot opportunities to go long.
Hope you observe the same.
Pattern is indication to go long at current levels of 13.90 for a target of 30.
Disclaimer: I am not a SEBI registered IA. We are providing this blog only to help the retail investors and it is only for educational purpose. This blog shall not in any be taken as an investment advice. Viewers are expected to research on their own before Investing.
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