📈 Power Grid 📉
This Stock Broke out from a Resistance zone of 216-218 after testing three times this range on upside with a strong green candle.
Bias - Long
Target - 250
SL - 1394
RR- 1 : 1
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you need some more study on...
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Powergrid Corp seems so bearishness with very less buyers, so give an entry with an appropriate Stop loss on the downside
***** 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...
It may touch 190 and may even break out ..
Sentiment & Factors :
1.Upcoming Earning Results
2.US election results
3. COVID vaccine news
4. Increased Industrial Production
Taking RSI , Bollinger Bands and PitchFork indicators into account, Still have enough room for expansion
Look For Buy (Positional)
Broke Above 200DMA + At Support
But Resistence Shown In Monthly
In Weekly & Daily It Looks Like Support
Keep Your Eyes On Index
(Risk Must Be Managed.)
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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.