Unless 180 breaks the stock is in uptrend. Can target 300 - 350.
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Hello Everyone, I Don't usually share much chart analysis, as I'm still a newbie, But am a bit confident on this so sharing it with the community for your feedback.
CMP :- 211.15
Script Name :- Powergrid
Power Grid Corporation of India Limited, is an Indian government electricity board and a Maharatna Public Sector Undertaking owned by the Ministry of...
Stock has taken support multiple times at Trendline in the past. If breaks TL tomorrow then can consider targets of 213, 211 & 207 in coming sessions (Intraday and Swing)
However if bounces from support tomorrow and crosses 218.50 then can consider for long positions (Intraday only)
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...