Power Grid Stock Analsysis report
Stock has come to rangebound now between 186 and 238.
Stock can be swing traded based on signals at top or bottom. any break out or break down can be used for long or short calls at above levels.
POWERGRID CMP 227.15
May go up to 250+, below 210 is invalid
Breaking from Triangle pattern
expecting Good R:R
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#powergrid...
Travelling in symmetrical triangle, watchout for breakout or breakdown or else can short on resistance after bearish setup as per price action and can aim for support or vice versa.
Stock gives breakout on a daily timeframe .
CMP : 218
Target : 225
Stoploss : 214
This is not a buy or sell call, this analysis is shared for educational purpose.
Powergrid is near the resistance zone, the price is making higher high while the RSI is flat this is clear sign of RSI Bearish Divergence.
Entry
We can go short when price make strong bearish candle near the resistance zone.
Stoploss
Stoploss above the resistance zone.
Target
Target will be the next nearest support zone.
Please don't forget to like this...
beautiful technical formation called round formation which is bullish
stock looks good although as its belong to power dont see humoungous rally due to the sector issues
Powergrid
The stock seems to have sustained above its crucial resistance level at 218
Now it has a clear path towards 231 / 238
Take care & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take...
Same as torrent power power grid too indicates rsi in oversold area just look at the chart with vertical blue dotted line on 20 Jul 18, 15 may19, 18mar/24sep 20, 20jun/26sep22. Especially 26sep22 candle formation shows exit of sellers here, can go long here with good risk reward , however upside 238 is a strong supply zone once broken can see level around...
Power Grid is looking good on weekly chart by observing some factors in it likewise it breaks a falling trendline resistance strongly and gives a strong close above on it with nice gaining buying volumes and created a positive crossover divergence on MACD indictor so all things together giving a sign of coming more bullishness in it and we could see good up moves...
Hello traders , here is the analysis for this stock let me know in the comment section below if you have any questions , the entry will be taken only if high of today is taken out . I suggest you keep this stock on your watchlist and see if the rules of your strategy are satisfied.. According to me, an up move can be expected in POWERGRID . Moreover it has...
