1. I am bearish on the prospects of Reliance Power as technically the stock looks week and thus the stock has the potential to fall to Rs 180-185.
2. The stock can be considered in bull grip only if it is able to move ahead of Rs 255 with volumes and sustain above this level for 3 days to be considered that the uptrend has commenced in the stock. RPL has support at Rs 165-170 and resistance at Rs 200-210.
3. As the charts speak the probability of stock moving to Rs 255 appears remote and thus one must use every rally to book profit in stock and in turn can enter in NTPC if one is intersted to gain exposure in Indian power sector.
4. I am posting this with firm conviction as certain investors may be sitting on it on the element of hope considering that it has Reliance tag attached to it and in the end it may not provide them with requisite returns.
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4 Jun 2008
Warning: Reliance Power
Warning: Reliance Power
2008-06-04T23:09:00+05:30
Analyst
Reliance Power|
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