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.
@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.