Powergrid - Looking to Break free
Updated
POWERGRID CMP: 231 SL: 216
Initial Target: 248(ATH)
If holds and crosses, 248 then target is open.
RR(For first target): 1.14:1 (for target 248). Beyond that it improves
Reason:
1 - CNXINFRA looks good. IF this breaks out, then this will perform beautifully.
2 - Stock looks like breaking out of consolidation of year long consolidation from what could possibly be a flag and pole pattern.
3 - Possibly could be Break Out of Flag & Pole ( On Weekly)
4 - Above all moving averages on Daily and Weekly
5 - RSI is trending up
6 - MACD looks positive.
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I hope this helps, and best of luck with your technical analysis!
Trade active
1st Target achieved. Next let's see how far we go. Trading near ATH.
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