Reliance Power stock rallies 18%; Supertrend indicator triggers ‘buy’

Synopsis

Reliance Power share price: The Supertrend indicator is a trend-based technical analysis tool used by traders to determine the direction of a stock, index, or asset's price movement and to generate corresponding buy or sell signals.

Reliance Power Ltd, part of the power generation space, rallied over 18% in intraday trade on Friday, supported by strong volumes.

The momentum also triggered a buy on the Supertrend indicator on the weekly charts, which is a positive sign for the bulls.

The Supertrend indicator is a trend-following technical analysis tool that helps traders identify the direction of a stock, index, or asset's price movement and generate buy or sell signals accordingly.

The price has moved above the Supertrend line, indicating a potential shift from a downtrend to an uptrend or a confirmation of ongoing bullish momentum.

Reliance Power is one of India’s largest power generation portfolio under development in private sector in India.

Reliance Power witnessed significant market activity with a traded volume of 2,666.75 lakh shares and a traded value of Rs 1,325.11 crore.

The high volumes and turnover highlight strong investor interest and active participation in the stock during the trading session, reflecting its continued relevance and liquidity in the market.

The 50-week moving average has been acting as a crucial support for the stock since June 2023. Recently, the stock took support around the 50-week moving average and bounced back on the weekly frame.

Earlier this week, Reliance Power Limited 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

Also Read: Reliance Power teams up with Bhutan for country's largest ever solar energy project at Rs 2000 crore

Shareholding Pattern:

In the March 2025 quarter, Reliance Power’s shareholding pattern reflected growing institutional interest, even as promoters maintained a steady stake at 23.26%.

Foreign Institutional Investors (FIIs/FPIs) increased their holdings from 12.95% to 13.21%, while mutual funds initiated exposure, raising their stake from nil to 0.38%.

Overall, institutional investor holdings rose from 15.75% to 16.50%, indicating renewed confidence in the company’s prospects and a broader institutional appetite for the stock.

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

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