POWERGRID buy based on Fibonacci RetracementStock is showing strong support on 50% zone.
Expecting it to retrace to 220 zone.
stop loss should be immediate lower Fibonacci level
POWERGRID
POWER GRID channelsIt has been observed on day chart that Power Grid has been trading within channels.
Please use this as a reference in addition to your analysis.
Regards,
tRex
Symmetric Triangle on PowergridSymmetric Triangle on Powergrid and it may break either side.
Trade:
Long Entry - above 218.50
Target - 225
Stop loss - 214
Short Entry - below 215
Target - 209.50
Stop loss - 219
Energy companies are toastThe CNXENERGY index is showing ominous signs.
These stocks haven't been doing too well recently but have enjoyed a sustained uptrend.
It's time for reversal now. The fundamental picture is not at all good and this move downward is just getting started.
For more thorough analysis, check out my daily NSE dashboards at
rpubs.com
Power Grid: Looks InterestingPrice has gotten above the 50-DMA and also took support at this average couple of days ago. Trend looks bullish and I am watching this stock for a long entry.
PowerGridShort Setup:
Short Powergrid at the fractal break of 190, target at major support 185. Expecting minor support @188.00 & 187.50
Buy Setup:
Buy Powergrid at breakout of major resistance @ 195, target at 199.5 & 205. Expecting some minor resistance @197.50
PowerGrid - Breaking Out RangeIt is been observed that the price action is breaking out from a range formed on the 30 mins/hourly chart. It shall further boost the price action and reach to next resistance levels.
Target: 200
Stoploss: 193
powergrid - a relief rally expectedfor educational purpose only - powergrid has respected fib level 0.618 Rs.188.5. so a bounce back upto 196-198 may be seen.
Powergrid - Possible BreakoutPowergrid is making all- time highs and a possible extension of it by breaking out.
Intraday - Long Powergrid CMP - Buy at 203.8
Stop Loss - 203
Target - Ride it till it touches yellow .
Powergrid on long breakoutPowergrid is giving a long breakout above 187.20. Keep a watch for the level 187.20, if it breaks 187.20 then it can move to 189 on the upside, condition that it do not break 185.80 on downside.
power grid "potential short"last time when a posted power grid that time it reached the stop loss..
that time as well the price action formed the abcde correction pattern which still remains but in larger degree.
enter when price closed below 176.
