ontropronor06

Power grid Heading for a breakout?

NSE:POWERGRID   POWER GRID CORP
The stock has tested the Resistance region for quite a significant time.
With clear spikes in buying volumes.
On RSI , Stock has also recovered after testing the 50 line.
Promoter holding has increased by almost 10% in the last quarter.
Stock is trading a PE of 8.21 which quite similar to historical PE. But it significantly lower than the industry PE of 23.8.
A breakout above resistance supported by volumes can be a good sign to make a long position.

Comments

can i buy this for swing trading?
Reply
ontropronor06 rajatguliani
@rajatguliani, Stock is testing resistance so any position should be made above resistance range.
+1 Reply