POWERGRID trade ideas
Powergrid 243 - Support and resistance Power grid 243 - Has Support at 241,233 and resistance at 249
Swing Opportunity in Power Grid CorpGo Long above 245.6 for Targets of 267.95 and 290.3 with SL 223.25
Reason to go Long :
1. The stock formed a bullish chart pattern, Inverted Head & Shoulder and today gave breakout with high volume.
2. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.5 Fibonacci level.
Power Grid Corp is in UptrendPower Grid can make an all time high in coming few weeks, watch this stock.
PowerGrid Weekly - BreakoutPowergrid Treneline breakout in the weekly timeframe. Entry upon retest in 230-240 range. Stoploss below the TL on DCB.
Power Grid Corporation from 13 June 2021A good Weekly Breakout with increasing volume.
MFI breakout
My RSI close --> positive
Stoc RSi --> showing good momentum
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.
INVERTED HEAD AND SHOULDER ON POWERGRID (Daily chart )An 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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Power Grid - Inverted Head and Shoulders BOStock has formed HnS on daily TF and given BO above ATH zone.
Today it re-tested the BO zone. If stock manages to stay above the zone for next few sessions and breaks 248 then can see good upside in coming weeks
2 reasons to buy1) Inverse Head and shoulder pattern
2) Resistance Breakout with retest.
Can be bought for a target of 260.
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Happy Trading :)
#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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POWERGRID - A Good Pick To Go Long!As we can see in the chart, the stock has given a decent breakout from its stiff resistance. Also, it has retested this level after the breakout. Now, positionally a good pick for going low with a stop loss below 235. We might see a decent rally in this stock after a little consolidation around its current pricing. For targets, take reference of provided target lines.
