Anil Ambani led company share has been falling after hitting upper circuit, this decline comes in the last two trading sessions.

Reliance Power shares are currently trading above their 5-day, 50-day, 100-day, and 200-day moving averages, with a relative strength index (RSI) of 79, indicating overbought conditions. Read on further to find out about Anil Ambani's Reliance Power share price,

So, Bagadia expects around 33% more upside from Reliance Power shares' current market price of ₹ 46.35 apiece.

The bull run in Reliance Power shares continued on Tuesday as the counter jumped 5 per cent to hit the upper circuit for the 4th day in a row. Reliance Power is owned by Anil Ambani. Reliance Power shares opened at a new 52-week and day's circuit at Rs 40.

Reliance Power shares hit the 5 percent upper circuit for the eighth consecutive session, driven by key contract wins and favorable corporate developments.

Reliance Power said the FCCBs would be convertible into 82.30 crore equity shares of Rs 10 apiece at the conversion price of Rs 51, including a premium of Rs 41 per equity share.

Anil Ambani's Reliance Power shares had been rising for the past few days. The share closed at Rs 53.64 with a nearly 5 per cent hike on Thursday, October 3. However, it declined

Despite Friday's drop, Reliance Power shares have surged 64% in a month, gaining 112.82% year-to-date and 171.70% annually.

Anil Ambani-backed Reliance Power shares snapped their 11-day streak of hitting 5 per cent upper circuit on Friday, October 4. The stock was locked in 5 per cent lower circuit at Rs 50.97 on the BSE a day after its board of directors approved a proposal to raise up to Rs 4,

The stock was hitting 5% upper circuit for the past 12 sessions, while it maintained an uptrend since September 12, rising 72% during the same period.