vanathi

Power Grid - At the support!

Long
NSE:POWERGRID   POWER GRID CORP
278 views
13
Power grid is trending near the long term support at 186-188. Close above the trend line will make the price to move up towards the targets 194,197,199 and 202 with the stoploss of 188. RSI hidden bullish divergence supports the price action for uptrend.
Trade active: @ 193 on 3/6/17
Comment: Targets 1 and 2 reached on 3/8/17
Comment: Target 2 and 3 reached on 3/31/17
Success Log.For live maket analysis follow me in telegram. https://t.me/Analysis4Newbie
To learn about system trading, https://neomechanicaltrader.home.blog/

Comments

Madam what is RSI hidden bullish divergence
Reply
vanathi ramana.kgvr
@ramana.kgvr, Hidden bullish divergence happens when price is making a higher low (HL), but the oscillator is showing a lower low (LL).
Reply
Wait for price to break monthly resistance for an aggressive entry... the stock is still pretty weak...
Reply
n.bhaskar1993 n.bhaskar1993
@n.bhaskar1993, Correction: Monthly resistance level is 193.50...
not 190.50
Reply
vanathi n.bhaskar1993
@n.bhaskar1993, Ok. When the price closes above the trend line and breaks the monthly resistance, movement will be very fast. Thank you for sharing your view and chart.
Reply
@vanathi, Yes, it is ideal the condition. But when using fibonacci support levels for retracement, ideally, we want to see the price retacing at low volumes. But here, we have the price retacing at unusually high volumes(increasing the risk). Hence, I would wait for the the RSI to break above 50 and the price to trade above MACD for a conservative trade.
Good Luck..
Reply
vanathi n.bhaskar1993
@n.bhaskar1993, Neat explanation. Thank you...
Reply
vanati i feel powergrid is yet to take support, it may soon break the support, this is my opinion, may see pull back but still it is under corrective cycle
Reply
vanathi nalinakshi
@nalinakshi, Why you think it is still under corrective cycle? Can you share the chart about your view?
Reply
nalinakshi vanathi
@vanathi, i have posted my views on powergrid posting Please look into it. If i am wrong or if you feel different please comment. views will make one to improve and change perspective
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out