POWERGRID after recently making 52W high is facing trouble at highs and currently trading in a bulls flag in Daily charts. RSI price negative divergence was observed near highs and RSI is continuing to trend lower.
POWERGRID can be shorted near TL or below 180 for 173/170 tgt. SL above the trendline or above 195
Powergrid is giving a long breakout above 187.20. Keep a watch for the level 187.20, if it breaks 187.20 then it can move to 189 on the upside, condition that it do not break 185.80 on downside.
Power Grid broke out of Falling Triangle.
Stock is looking all set to create new highs and move towards 200 very soon.
Target 1- 187
Target 2- 200
SL- 176
last time when a posted power grid that time it reached the stop loss..
that time as well the price action formed the abcde correction pattern which still remains but in larger degree.
enter when price closed below 176.
POWERGRID looking best pick and safe pick for long term investment if you want to buy stock in energy sector then select PFC also.. buying near 150-170 sl 100 target 300-500 time frame -2-3 year
