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POWERGRID

CNXENERGY BREAKOUT-energy stock bullishThe energy sector of our market seems to have given a breakout, it has been in a consolidation for a while now and has shown a healthy correction of 50% according to fib retracement. The pattern it formed was an ideal flag and pole pattern which is a pattern that gives a good momentum when its broken and gives a rally of equal to it's last rally. The RSI stands at 58 and is indicating bullishness. MACD is above the signal line. I believe it's a good opportunity to go long on energy stocks Below I have posted some charts of the energy sector stocks, do have a look at them, these charts are not provided to take trades on them but just to get a better understanding of cnxenergy. Tatapower: Jswenergy: Powergrid: Adanigreen:
NSE:CNXENERGYLong
by this_is_shoaib
One of the most active stocks in NIFTY50Power Grid Corp. of India Ltd one of the most active stocks in NIFTY50, from the last few months it continues the up trend and look into the daily chart it clearly respecting the trend line. 28th sep the price action was formed Break out(180) with good volume. It created a new high at (209). After it came back and retested the line it indicated strength (180) level and moved higher till (216) with strong Upside Momentum created new high(216).Now price is testing the alternative support zone (202). Take a Look at the Price Action Analysis of Power Grid Corp on 1D Chart Now the positive clues can influence the stock prices. Another important reason is to consider the volume. So far we haven’t noticed any strong increase in the Volume, in fact, we are experiencing lower than average volume which technically means overall trading activity is very low. In order for stock prices to make significant movements either to the upside or downside, we want to see a Strong increase in the Trading Volume. Based on Price Action and recent observations, Prices are likely to move up Any Breakout at the resistance zone without significant momentum or Volume can turn into a False Breakout or Bear Trap. On the other hand, any positive news Change in the Direction of Nifty 50 can change the Overall price action, and as a result, prices could break the new high and move higher. In my perspective ,Keep an eye on the Price Action, watch out for the Market Behaviour at the new high around (215) and make decisions accordingly.
NSE:POWERGRID
by Manuadarsh
Trendline TradingWhat is the Trendline Theory? A trendline helps technical analysts determine the current direction in market prices. ... If the analyst draws a line between all three price points, they have an upward trend. The trendline drawn has a positive slope and is therefore telling the analyst to buy in the direction of the trend. Lets us understand how Trendline Theory works with the chart given below- So as per the above theory- The levels mentioned in the chart (powergrid) is considered to be the right entry point to take long position in the stock, also i have tried to identify the reversal point in macd and Rsi indicator in further support of the trade setup. Do like and comment if you have any suggestion ...thanks
NSE:POWERGRIDLong
by N50-ANALYST
POWER GRID LTDPlease strictly avoid any fresh Buying. And this post is specifically for the long term investors. I assume this may soon start a downtrend because on monthly time frame this is not all promising. It has recently touched the Monthly High TL. The downside reversal is confirmed by a Bearish Wolfe Wave. May be in short term it may bounce till 198. But better avoid until and unless no clear breakout is seen. Rest all updates will be given in the update idea section Chart & Analysis By - ADARSH DEY
NSE:POWERGRIDShort
by AdarshDey