Last Updated:May 23, 2025, 15:16 IST
Reliance Power Ltd, a key player in India’s private power generation sector, surged over 18% in intraday trade on Friday
The Reliance Power stock witnessed significant trading activity, with 2,666.75 lakh shares changing hands, amounting to a traded value of Rs 1,325.11 crore.
Reliance Power Share Price: Reliance Power Ltd, a key player in India’s private power generation sector, surged over 18% in intraday trade on Friday, driven by strong volumes. The rally also triggered a ‘buy’ signal on the Supertrend indicator on weekly charts — a bullish technical signal suggesting a potential shift in market momentum.
What the Supertrend Indicator Signals
The Supertrend is a popular trend-following indicator used by traders to identify potential entries or exits based on price action. With Reliance Power’s price now trading above the Supertrend line, this development may signal the end of a previous downtrend and the beginning of a possible uptrend or the continuation of current bullish momentum.
Heavy Volumes Reflect Investor Interest
The stock witnessed significant trading activity, with 2,666.75 lakh shares changing hands, amounting to a traded value of Rs 1,325.11 crore. Such high turnover highlights strong investor interest and liquidity in the counter, making it one of the most actively traded stocks of the session.
50-Week Moving Average Holds Strong
Reliance Power has been respecting its 50-week moving average as a key support level since June 2023. Recently, the stock once again bounced off this long-term average, reinforcing its technical importance and offering further validation for bullish sentiment.
PPA Deal for Bhutan Solar Project Adds to Optimism
Adding to the stock’s momentum, earlier this week Reliance Power signed a commercial term sheet for a long-term Power Purchase Agreement (PPA) with Green Digital Private Limited to develop Bhutan’s largest solar power project. The agreement reinforces the company’s strategic push toward renewable energy expansion.
Rising Institutional Confidence
The March 2025 shareholding data indicates a rise in institutional interest. Promoters held a steady 23.26% stake, while Foreign Institutional Investors (FIIs/FPIs) increased their holdings from 12.95% to 13.21%. Additionally, mutual funds initiated exposure to the stock, raising their stake from zero to 0.38%. Overall, institutional holdings climbed from 15.75% to 16.50%, signaling improved confidence in the company’s future prospects.
Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
- First Published:
#Bullish #Breakout #Reliance #Power #Rallies #Supertrend #Indicator #Signals #Buy
