Power Grid – Breakout Plan
Watching for a clean move above ₹300 level.
Hourly chart shows Cup & Handle formation, while Daily/Weekly has Flag pattern attempting breakout.
✅ Breakout level: ₹300 (confirmation close needed)
✅ Stop-loss: ₹290–294 (below support / ATR-based)
✅ Target 1: ₹328 (Fibonacci 0.618 – Golden Ratio)
✅ Target 2: ₹375 (Measured Move)
Indicators:
EMAs rising on hourly, steady on daily.
RSI strong but nearing overbought on lower timeframe.
MACD positive momentum.
Watching volume for confirmation.
Macro Drivers:
Government infra spending.
Cooling inflation.
Rising electricity demand in India.
✅ Plan: Wait for confirmed breakout with volume. Strict risk management with pre-defined stop.
Watching for a clean move above ₹300 level.
Hourly chart shows Cup & Handle formation, while Daily/Weekly has Flag pattern attempting breakout.
✅ Breakout level: ₹300 (confirmation close needed)
✅ Stop-loss: ₹290–294 (below support / ATR-based)
✅ Target 1: ₹328 (Fibonacci 0.618 – Golden Ratio)
✅ Target 2: ₹375 (Measured Move)
Indicators:
EMAs rising on hourly, steady on daily.
RSI strong but nearing overbought on lower timeframe.
MACD positive momentum.
Watching volume for confirmation.
Macro Drivers:
Government infra spending.
Cooling inflation.
Rising electricity demand in India.
✅ Plan: Wait for confirmed breakout with volume. Strict risk management with pre-defined stop.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.