The stock is on consolidation mode.
A big move before earnings is pending; may happen tomorrow or on Monday.
Range is indicated on chart
Go Long above 176.8
Short below 175.4
Please refer the linked breakout idea on how today's trade was planned.
The Fib retracement levels are drawn on chart this time for clarity.
The stock is at a crucial level - Cup is ready !
Positional Trades:
Go long above 174.5 for 176, 177, 178 with SL at 173
Stock performed very bullish on previous day.
Now its going towards resistance & it may retest before it give a good breakout.
Little Correction & profit booking may happen tomorrow. May fall up to 175.
POWERGRID if bounces from 163-164 level can be good option to make profit. Can be bought as a CE option and wait for 3/4 days for booking profit. 165 CE @ 3.5_4 range now.
Share is taking support of trend line and in attempt of breaking resistance level of ₹172.75 and if breaks than the price will try to break ₹188.75 levels. If it fall in next trading session the stock is likely to test the support level of ₹159.7 RSI on daily chart is neutral however the stock has given closing above previous close and with higher volume.
it took support @175(0.5gold num) and whenever it took support @175 went to 200rs , I have drawn barrel channels if it breaks 182.60 then go for buy above @183 targets updated in charts .power sectors doing very well. I have mentioned only bullish views and thanks for view my charts. please comment it on your view
