Reliance Power shares recently slipped by 11% from their 52-week high of Rs 53.65, though they remain in an overbought zone on technical charts. The stock had surged significantly, delivering multibagger returns with a 124% rise in 2024. Despite the recent pullback, it is still considered overbought, with key indicators suggesting potential consolidation in the short term.
Source:- bbc news
Analysts are advising caution as the stock has risen sharply and now appears to be taking a breather. There is some optimism around the company’s recent partnerships, like its collaboration with Bhutan’s Druk Holding for green energy projects,
Source:- news 18
which could influence future stock movements positively. However, the overall sentiment remains mixed, and traders are watching for new price targets after the correction
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