The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock...
Powergrid is breaking out of a cup and handle pattern. The C&H is one of the most reliable patterns during an uptrend. The stock has been trading above its 200 DMA for several months now and is in a clear uptrend. The breakout is on above average volumes and is added confirmation. Look for a good rally yesterday's low holds
Why this Trade..??
1. FLAG Pattern
Buy or Sell based on the Support Break with Volume
Disclaimer:This view is purely for educational purpose and it's my personal.Please consult your financial advisor before attempting any trade.We're not responsible for any loss or profits.
The energy sector of our market seems to have given a breakout, it has been in a consolidation for a while now and has shown a healthy correction of 50% according to fib retracement.
The pattern it formed was an ideal flag and pole pattern which is a pattern that gives a good momentum when its broken and gives a rally of equal to it's last rally.
The RSI stands...
Power Grid Corp. of India Ltd one of the most active stocks in NIFTY50, from the last few months it continues the up trend and look into the daily chart it clearly respecting the trend line. 28th sep the price action was formed Break out(180) with good volume. It created a new high at (209). After it came back and retested the line it indicated strength (180)...
#PRECWIRE given with Entry @ 307 but it open with gapup @ 312 and then zoomed to 357 which is 18% of its PC.
Chances to lock @ 20 % which is max cap.
Stock was captured before hand as it was shared today before market opens, one can check my profile for complete details.
Please strictly avoid any fresh Buying. And this post is specifically for the long term investors. I assume this may soon start a downtrend because on monthly time frame this is not all promising.
It has recently touched the Monthly High TL.
The downside reversal is confirmed by a Bearish Wolfe Wave.
May be in short term it...