POWER GRID | CORRECTION | PROFIT BOOKINGStock 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
Power Grid - Cup is Ready 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
POWERGRID TRADE SETUPPowergrid moved 6% on 20th july because it broke a trend line. Support and resistance drawn for targets and stop loss.
POWERGRID July 2020 target 177POWERGRID 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.
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
Synergistic Pattern: Triple bottom + Trend-line + 100 EMALevels are on chart.
Please like this pattern.
Thank you. Happy Trading!!!
Powergrid - Go LongPowergrid is on an uptrend, and if breaks the resistance of 192, next target should be 200 in few trading sessions.
Bet on it ,Go long High delivery with positive price closing
Under consolidation for hours
In zone of Bullish cypher
Oversold condition
Correction time
Buy On Tuesday Market Open Any Price less than or Equivalent 18Buy On Tuesday Market Open Any Price less than or Equivalent 188.80/-
NSE:POWERGRID 15% Contribute India Power Supply
Govt owned Company
Sales Growth (18.70%)
Profit Margin : 28.38%
Profit Growth : 18%
EPS : 18.4%
PE BAND : MINIMUM: 10.56 MAX : 14.77
Auditor : SK Mittal
MD : I S Jha
"Investment Idea "
Buy Adani PowerLooking to Buy Adani power here due to lot of strength in the stock.
Will be executing today
Hare Krishna !
Good Luck
