📈 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...
Kiss Principle (KEEP IT SIMPLE AND STRAIGHT
Power Grid is Trading in support of Rising Lines
And Just Broken the level
Buy above 194.5 short term TGT will be 210 next TGT will be blue line
Take Help of the Lines for Entry and Exit Levls
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...
POWERGRID is in its support region and there is a resistance from above also. So, if it break out the above pink line with heavy green candle than it may go UP
if it breaks the below support region than it may go down.
If you look properly, this same pattern is repeated multiple times in Powergrid.
This is just my analysis
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.