Reliance Power rally 2026: Weekly MACD signal, ₹45 view

What changed for Reliance Power in April 2026

Reliance Power Ltd has stayed in focus in April 2026 as the stock extended an uptrend into FY27. After the start of FY26-27, the share price moved sharply higher on the NSE, rising from ₹20.36 to ₹28.58 during April, a move of over 40% for the month. Market commentary linked the move to both improving fundamentals and a technical breakout near the ₹20 zone.

In the latest trade mentioned, Reliance Power slipped 2.06% from its previous close of ₹28.68, with the last traded price at ₹28.09. Even with that dip, the stock remained well above the ₹20 level that market participants described as a base and breakout point.

Weekly MACD crossover and the historical pattern

A weekly MACD crossover was reported for the week ending April 17, 2026. The same note highlighted that, over the last 10 years, the average price gain following this signal was 18.91% within seven weeks. That historical statistic does not guarantee outcomes, but it explains why the signal drew attention among technically driven traders.

The MACD reference adds to the broader chart narrative that the stock has shifted from a prolonged weak phase into a stronger trend setup. Separately, technical commentary also pointed to a trendline breakout on the weekly chart, suggesting a possible long-term trend change.

Price action highlights from recent sessions

Reliance Power’s sharp moves have also been visible on individual trading days. One report said the stock opened at ₹26.95 and rose around 13% intraday to ₹29.95, before closing at ₹28.95, up 10.88% for the day. That session was also linked to a jump in market capitalisation to about ₹12,000 crore.

A separate market update noted the stock rising over 9% on the BSE to ₹28.56 on April 15, 2026. Another day described an intraday rise of more than 7% to around ₹27.36 on April 13, 2026, even as the broader market fell sharply at the open.

Fundamental triggers cited: debt, profitability, and asset performance

Abhinav Tiwari, Research Analyst at Bonanza, said the rally was “not entirely random” and linked it to balance sheet improvement. According to the same commentary, Reliance Power has largely become debt-free at the standalone level, marking a shift from its earlier high-leverage position. The easing of debt concerns was described as a reason for a re-rating as earlier worries around leverage and execution began to reduce.

Tiwari also said the company returned to profitability in FY25 after years of losses, improving investor confidence, while adding that the sustainability of earnings remains under evaluation. Operationally, the Sasan and Rosa power plants were cited as performing well and providing stable cash flows.

Renewable energy narrative and early-stage opportunities

Bonanza’s commentary added that the company’s pivot towards renewable energy has supported sentiment. It referred to entry into solar and battery storage projects as a new growth narrative that the market is valuing as future potential. Developments such as the Bhutan project and international bid opportunities were also mentioned as positive for sentiment, though still early-stage and not yet contributing meaningfully to earnings.

Another related update said Reliance Power secured a 500 MW/1000 MWh Battery Energy Storage System contract from the Solar Energy Corporation of India, described as its entry into renewable storage. The project is to be delivered at SECI’s Fatehgarh substation in Rajasthan and is slated for commissioning within 24 months.

Why the stock moved ahead of Q4 results

On the question of why Reliance Power shares were rising before Q4 results, Bonanza’s view was that the timing suggested expectations were being priced in rather than a reaction to actual reported numbers. The same comment said investors were betting that upcoming results would confirm the turnaround and that FY26 could show improved earnings visibility.

This framing is important because it separates “price action” from “reported performance” and helps explain why trading interest can rise even when the next quarterly result is not yet out.

Technical levels: support, resistance, and expert targets

Ganesh Dongre, Senior Manager, Technical Research at Anand Rathi, said the weekly chart showed a clear trendline breakout, indicating a potential shift in the long-term trend from bearish to bullish. He highlighted a strong base around ₹20, which now acts as a key support zone. With the stock trading near ₹28, he said it remained above the breakout level, reflecting positive momentum.

Dongre flagged ₹36-₹40 as immediate resistance, described as a previous supply area. He added that a sustained breakout above that zone could push the stock towards ₹45. The same note outlined a trading approach: buying near current levels with a stop-loss at ₹20, targeting ₹36-₹40 in the near term and ₹45 on an extended move.

Key financial and trading snapshot

Alongside the turnaround narrative, investors have also been tracking quarterly numbers and volatility. Reliance Power’s Q3 FY26 consolidated profit after tax was reported at ₹25.22 crore, down 40.14% year-on-year from ₹41.95 crore. Revenue from operations was ₹1,872.84 crore in Q3 FY26, up 1.08% year-on-year from ₹1,852.84 crore in Q3 FY25. Total income was reported at ₹1,949.78 crore versus ₹2,159.44 crore in the year-ago period.

The company also cited a debt-to-equity ratio of 0.87, described as among the lowest in the industry in that report. On market performance, one update said the stock declined nearly 35% over six months and fell 26.82% over the past year, even as longer-period returns remained strong.

Volatility over the years and what it signals

Reliance Power’s long-term chart reflects sharp cycles. A separate report said the stock was at ₹260.78 on May 16, 2008, fell to about ₹1 by March 2020, and has since recovered strongly. The same report described a rise of more than 1,800% from the lows.

Exchange data cited in another update showed a 52-week high of ₹76.49 on June 11, 2025 and a 52-week low of ₹26.83 on January 27, 2026, underlining the stock’s volatility.

Summary table: levels, signals, and reported metrics

Conclusion

Reliance Power’s April 2026 rally has been framed around a combination of technical signals and a changing fundamental narrative, particularly the claim of becoming largely debt-free at the standalone level and a return to profitability in FY25. The weekly MACD crossover for the week ending April 17, 2026 added a data-driven trigger that some traders track for momentum setups. Near-term attention is likely to remain on the ₹36-₹40 resistance area highlighted by technical analysts, while investors also watch how upcoming results align with the expectations that have built into the price.