Anil Ambani’s Reliance Power Shares Continue to Rise as Stock Holds Momentum After Sharp Rally

Shares of Anil Ambani's Reliance Power inched up in today’s trading session, rising 0.34% to ₹29.52, as the stock continued to hold gains after a strong recent rally.

The Anil Ambani-led company has already delivered nearly a 50% surge from its recent bottom, reflecting sustained buying interest and improving sentiment around the counter. Despite the sharp run-up, technical indicators suggest that momentum may not be over yet.

According to market analysts, the MACD indicator has flashed a bullish crossover from an extreme oversold zone, a signal similar to the one seen in May 2019, which had preceded a notable uptrend. This has strengthened expectations of further upside in the near term.

From a technical standpoint, the stock is currently trading above key breakout levels, indicating continued strength. Analysts believe that any short-term pullback could offer a buy-on-dips opportunity for traders.

Immediate support is seen near ₹26, while resistance is placed around ₹31. A decisive breakout above this level could trigger the next leg of the rally, with the stock potentially moving towards the ₹35 mark over the next 2–3 weeks, provided momentum sustains.

The stock has already seen a sharp rally of over 39% in April, and nearly 38% gains in the past one month. However, it still remains down over 15% on a year-to-date basis in 2026, indicating room for recovery from earlier declines. Notably, the shares had touched a 52-week low of ₹20.17 on March 30.

In the longer term, the stock has delivered impressive returns, gaining around 135% over the past three years and more than 560% in five years, highlighting its high-beta nature.

A key factor supporting the recent rally has been the company’s progress towards becoming debt-free, which has boosted investor confidence and attracted value buying at lower levels.

Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, noted that the stock has witnessed a decisive breakout on weekly charts. He added that ₹20 now acts as a strong base, reinforcing the positive trend.

As per the March 2026 quarter shareholding data, Anil Ambani holds a 0.01% stake in the company, with other promoter family members — Tina Ambani and Anmol Ambani — also holding similar stakes, while Kokilaben Ambani owns 0.02%.