POWERGRID given breakout on daily time frame, now wait for retest and let resistance become support. its always good to wait for correct time
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I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
I may be 100% wrong as...
*Everything is mentioned on the chart. I hope it is easy to understand.
*Don't jump in to trade at the beginning of the market. let it get settle for 5 min 15MIN first and judge price action.
*Avoid gap up or gap down chase. Wait and trade between level.
Note :Trade with strict stoploss. It may or may not hit all the levels. So one can book profit / loss at...
The stock had seen quite a fall from last week, and the weakness is carrying forward this week also.
The next good support of the stock is around 167-171 levels.
Keep an eye on the stock for bottom picking, though one can wait for the price to stabilize near support levels.
*Everything is mentioned on the chart. I hope it is easy to understand.
*Don't jump in to trade at the beginning of the market. let it get settle for 5 min 15MIN first and judge price action.
*Avoid gap up or gap down chase. Wait and trade between level.
Note :Trade with strict stoploss. It may or may not hit all the levels. So one can book profit / loss at...
Stock has recently taken support from the levels of 204.05 and has shown signs that an upward movement is possible in the mid term horizon.
So if you are considering this stock in your portfolio then you could get into this counter as the risk would be at minimal cost.
Time duration 2-3 months
Buy @ CMP or above 212 for a Target of 240 with a stop of 204 or below.
Powergrid is on the list of gainers, today, and I also discussed this post in my previous posts, the stock looks good on all the timeframe and they are in alignment.
On the hourly chart, it closed near the trendline resistance, since the higher frames are positive, I am expecting that we might see a breakout tomorrow and it could be good intraday for tomorrow,...
The stock is consolidating at these levels. We are awaiting the MACD cross-overs. ANd if that happens we can see the recovery, else EXIT is the best option we see.
Disclaimer:
The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the...
