POWERGRID
Powergrid price gong to touch support , Low probability stockI will buy Power grid because :
It has been taking support at the trend line .
It has touched the support and has not been able to break it.
So will be looking at buying opportunities.
If it breaks the support look at shorting
Entry : 227/224
Target : 251
Stop loss : 221
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Narrow range
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Take trade as per the values given in Fibonacci. always trail the stop loss. Do your own analysis before taking trade
Power Grid - extreme bearishnessPowergrid Corp seems so bearishness with very less buyers, so give an entry with an appropriate Stop loss on the downside
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout)
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
Power grid Heading for a breakout?The stock has tested the Resistance region for quite a significant time.
With clear spikes in buying volumes.
On RSI, Stock has also recovered after testing the 50 line.
Promoter holding has increased by almost 10% in the last quarter.
Stock is trading a PE of 8.21 which quite similar to historical PE. But it significantly lower than the industry PE of 23.8.
A breakout above resistance supported by volumes can be a good sign to make a long position.
TATA STEEL TO STEAL THE SHOW 🔩🔩Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade
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INVERTED HEAD AND SHOULDER ON POWERGRIDAn inverse head and shoulders, also called a "head and shoulders bottom", is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends. This pattern is identified when the price action of a security meets the following characteristics: the price falls to a trough and then rises; the price falls below the former trough and then rises again; finally, the price falls again but not as far as the second trough. Once the final trough is made, the price heads upward, toward the resistance found near the top of the previous troughs.
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🔰 {Some info}
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
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#43 POWER GRID WILL BECOME POWER STAR $#43 (GENIE IDEAS): I will daily post intraday/swing/positional trading opportunities so u can analyse and get the most from it. if you like my analysis do like and follow me as a token of appreciation.and if you have any queries let me know. I have also posted my views on stocks which on the verge of breakout indraprastha gas, ubl , castrol, hindustan unilever, jindal steel, india bulls, dabur, tata power.
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