S&P BSE Power Index - Potential breakout

A couple days back i shared the charts for Tata Power & Adani power which broke out. Also i mentioned RJ casually talking about the power reform bill being on the ministers desk for signature. This sector has been crying out for reforms in over a decade or longer.
The power index after 10 long years could be breaking out and potentially trying to soon form a higher high on a technical level.

Watch for stocks in this space.
Many of the stocks in this index are showing a lot of strength in the last couple days and if this index does breakout, expect a massive move because many stocks trade even below their book value and a lot below their replacement costs.


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