POWERGRID is at a crucial point NOWNSE:POWERGRID
POWERGRID is in its support region and there is a resistance from above also. So, if it break out the above pink line with heavy green candle than it may go UP
if it breaks the below support region than it may go down.
If you look properly, this same pattern is repeated multiple times in Powergrid.
This is just my analysis
DISCLAIMER : This is just my analysis for education purpose , I am not responsible for your profit or loss . Take the trade on the basis of your analysis.
NOTE: I am publishing my first idea, please give me the feedback and suggestions
POWERGRID
POWERGRID Buy signals at 172I will buy POWERGRID because :
It has been taking support at the trend line .
It has touched the trend line a few times and has not been able to break it.
So will be looking at buying opportunities.
If it breaks the trend line downward then look at shorting opportunity .
Entry : 172
Target : 191
Stop loss : 166
Stock analysis of power grid.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.
TREND ANALYSISit 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