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POWER GRID CORPORATION OF INDIPOWER GRID CORPORATION OF INDIPOWER GRID CORPORATION OF INDI

POWER GRID CORPORATION OF INDI

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POWERGRID trade ideas

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
POWERGRIDPOWERGRID is forming an "Ascending Triangle" pattern on daily charts. After giving an uptrend it has been consolidating and has already retested the upward trend line 2 times. It is facing heavy resistance around 215 levels and has strong support near 201. My Views: 1. Probable "Ascending Triangle" is forming which is a bullish pattern. 2. Strong Resistance at 215 levels and 201 levels will act as strong support. If it breaks the following support next support will come near to an upward moving trend line and breaking of that point will ensure a trend reversal. On the flip side, if the resistance around 215 levels is taken out with high volumes an initial target of 228 is possible. 3. Daily RSI shows neutral divergence against price which means it will consolidate for some time before giving breakout and might complete the "Ascending Triangle" pattern. Conclusion According to my opinion wait for a breakout of resistance with high volumes. After the breakout, an initial target of 228 is possible (12% upside after the breakout). Those are my views and are only for knowledge purposes. Please act Wisely and Carefully.
NSE:POWERGRID
by dhavnilmodi1998
Breakout-Power GridHello All, I hope you are healthy and happy! 😃 Currently I have this stock in my radar. A clear breakout in such market conditions is uncommon and that is what makes Power Grid really powerful. Breakout is backed by good clean candles and volume hence it seems reliable. It will be very interesting to see how the stock behaves now as it is at ATH in such market conditions. One can clearly see from it's previous journey that every breakout has been re-tested and then reconfirmed by the bulls. I believe one can initiate a initial position here and add more at the re-test only after the confirmation at the retest that bulls are still in charge of this stock. I would request you all to study the chart first, notice the nuances of the stock movement and then plan your entry and exit for this trade. Like I always say, let's learn and earn together😊🍻
NSE:POWERGRIDLong
by Ankit_Oberoi
3