Reliance Power Eyes Further Gains After Key Resistance Breakout: SEBI RA Finance With Palak

The analyst said Reliance Power has broken above the crucial ₹52–54 resistance zone, entering a consolidation phase supported by strong volume and buyer confidence.

Reliance Power Ltd shows a bullish technical trend after breaking through the critical ₹52–54 resistance zone, according to SEBI-registered analyst Finance With Palak.

At the time of writing, Reliance Power shares traded at ₹55.00, up ₹2.78 or 5.32% on the day.

After closing above its resistance threshold, the stock entered a tight consolidation phase, typically indicating market stability and potential for further gains.

The brief market shakeout ended without selling pressure, indicating strong buyer confidence and limited risk of further price declines.

Market participation appears strong as volume increases throughout the breakout and consolidation stages.

Reliance NU Energies, which operates under Reliance Power, recently received a Letter of Award from SJVN Limited to develop a 350 MW ISTS-connected solar power project.

The project includes a 700 MWh Battery Energy Storage System (BESS) with 175 MW capacity.

A tariff of ₹3.33/kWh was established for the project following a competitive bidding process.

The project requires setting up a 600 MW solar DC capacity, along with a 175 MW/700 MWh BESS capacity.

On Stocktwits, retail sentiment was ‘bullish’ amid ‘extremely high’ message volume.

The stock has risen 20.8% so far in 2025.

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