Siddharth_23

PowerGrid | Decsending triangle Pattern | Initiate Buy

Long
NSE:POWERGRID   POWER GRID CORP
After the impulsive wave 1 it has consolidated forming the descending triangle and Wave 2 will start soon.
Most of the technicians prefer to buy when it starts forming wave 2. The reason to initiate buy now is that this stock has good fundamentals with rising EPS and Debt is also less with Rising revenue. Moreover, I prefer to buy now as the Risk to reward ratio at this stage is also good.

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