NSE: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 :...
i was BANNED for violating house rule so i am republishing again without any alteration Bought @ 177.35 Target @ 199.40 Lot size = 4000
POWERGRID - LONG setup DAILY chart bullish POSITIONAL TRADE entry above 170 176 target is expected in short period
Price exactly rejected as expected from the previous high after breaking the channel for the second time which denotes price is strongly bullish. Now price might take support from 173 levels or channel bottom. Look for it and go long to make some bucks.
I 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
Powergrid has taken the pattern support, day candle looks bullish, good signs of support. Wait for dips, to enter.
Details in the chart View negates if it drops below the channel
we can watch for the breaking and take wise trading positions
As mentioned in the chart POWERGRID is trading near the resistance level. Watch out if brks above or comes down we will have good intraday trading opportunities on both sides.
The stock is on consolidation mode. A big move before earnings is pending; may happen tomorrow or on Monday. Range is indicated on chart Go Long above 176.8 Short below 175.4
I always mention everything on charts.
Price respecting both the trends, until a breakout comes.
Stock 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.
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 moved 6% on 20th july because it broke a trend line. Support and resistance drawn for targets and stop loss.
Risk averse strategy: Buy at 164 Riskier: Buy now with SL at 161.5