POWERGRID FUTURE, looks good for buy, but be cautious, may fall to take the bigger entry on the trend line of the bigger time frame
The earlier posted cup and handle pattern on Powergrid has not materialised. The stock has moved sideways and the pattern now looks like a ending diagonal. On the long term charts the rally from Mar '20 can be counted as a completed 5 wave structure. A break below the lower trendline of the diagonal pattern can accelerate a down move to 175 levels in short...
Powergrid is breaking out of a cup and handle pattern. The C&H is one of the most reliable patterns during an uptrend. The stock has been trading above its 200 DMA for several months now and is in a clear uptrend. The breakout is on above average volumes and is added confirmation. Look for a good rally yesterday's low holds
power grid short, as it is moving down from its highs
powergrid breaking out from triangle
powergrid may give breakout from triangle, taken support form 4hr time frame trendline already
sell below 208 tgt 201 sl above 212
“Hegel remarks somewhere that all great, world-historical facts and personages occur, as it were, twice. He has forgotten to add: the first time as tragedy, the second as farce.” ― Karl Marx, The Eighteenth Brumaire of Louis Bonaparte This is my trading journal, not a trade recommendation. I Will be Posting and updating the ideas regularly as market progresses,...