PowerGrid looks good for entry on weekly chart for medium term investment. Breakout, Retest and continuation of up trend can be seen here.
powergrid may give breakout from triangle, taken support form 4hr time frame trendline already
POWERGRID brokeout from falling wedge
looking bullish on daily n weekly chart for positional it can show 242/255/275 with SL of 210
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)
Power grid showing high potential in this falling market.
We can go for long from hear target 1 and 2 motioned in chart
I'm expecting a euphoric move in Powergrid, This move is not stopping any time soon.
whole All current Structure is having 2 possibilities . . . Follow For More DM for Enquires
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...
Simple uptrend after followed by correction, now can move up again.
As I shared previously the chart analysis of power grid . it is accepting the levels which i mentioned in it . please check previous post
if it crosses below the supporting zone then it can touch our target . . . Note:- This is my view, please do your analysis before taking any action and take responsibility for your action.