power company-RPOWER support 50.8 tgts 54-57

Reliance Power Limited future chart Reliance Power Limited stock trading at 53+ with almost 10% gains for the day. Technically stock is in bullish trend and after taking support around 47 given bullish breakout above 50.8 for tgts 54 and 57.     Future traders keep stop loss below 50.8 and expect tgt 54+ and then if sustain 57 will be next tgt in June series. Option traders watch RPOWER 55 and 60 call options of June series for big moves.     From long term view, if stock sustain above 51 then expect 71 and 83 as medium to long term targets.

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Pramod Baviskar

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