Reliance Power Sep Futs (SELL, below Rs69, Target Rs63, SL Rs72): - TopicsExpress

Reliance Power Sep Futs (SELL, below Rs69, Target Rs63, SL Rs72): Reliance Power has been struggling to surpass the neckline resistance of its inverted head & shoulders formation on the hourly chart. In yesterday’s session, it failed to clear this hurdle thus confirming near term negative outlook. For now, the risk/return of establishing long positions is less than ideal. Moreover, appearance of falling tops signifies the bulls inability to form higher highs. Also, breakdown of the rising trendline implies more downside in the coming days. (Duration 5 days)--IIFL

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