AbhishekHSinghCMT
Short

Power Grid -Power can go off between 212-220-Crab in the circuit

NSE:POWERGRID   POWER GRID CORP
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18
453 22
Be careful, crab in the circuit can trouble & take the power away from power grid. 212-220 Zone is crucial resistance & Break of rising trendline can be the signal of power loss.

Any move above 220 on sustained basis only can give us a clue that crabs can't do anything.
Trade active: 11:05 Hrs 21st June2017

Last Price@206

Started its fall from the zone 212-220 from the highs of 215
Going below Monthly red rising trendline can make the case more stronger for downside.
Holding on 205-206 - looks partial profit to be booked & re-enter on bounce to sell again later or below 205.
Trade active: 19:08 Hrs 21st June2017

Last Price@205.70

Selling Below - 202

Buying Above 207.55 for 210-211

If Bounces from 204 or just below 204 & crosses 207.55 then it can extend to 210-211 Zone

Bullish Cypher in place close to 203-204.50 Zone

Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Price is below 202. Kindly advice target
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@abhinavk31, I am travelling out till 28th June2017.
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abhinavk31 AbhishekHSinghCMT
@AbhishekHSinghCMT, can we expect 211 here?
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@abhinavk31, If starts moving below 206 then there is risk for long positions -in that case it can even go below 200 mark downside. Staying above 207.50 only we can expect upside.
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@abhinavk31, Zone of 206-207.50 -cannot decide, but if stays above 207.50 -it can move upside.
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abhinavk31 AbhishekHSinghCMT
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What to do in this call?
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@SatyamMishra, I have written above- "break of red trendline means price starts moving below red trendline then it confirms downside.
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SatyamMishra AbhishekHSinghCMT
@AbhishekHSinghCMT, sir iam new in technical analysis yet learing please confirm what to do . According to my knowledge we have to short it 212-220 levels with all around 221 am I right sir?
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@SatyamMishra, Sell when price starts moving below red trendline.
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