The power index is all set to move towards the INR 7000 mark in the new wave v of (iii) of III. The index has been in a strong uptrend since Feb 2023 and the trend only got stronger in OCT 2023. The new wave is expected to touch 6968 levels soon. 6164 remains a crucial support for the index going forward.
It is also at good breakout point. Keep watch on it and get with strong stocks for good returns.
It seems that it is coming to retest breakout point in ratio chart and then it should move higher. So it is better entry point for long here.
given muti yr breakout ,power as sector will do extremely well from here . keep an eye on srocks like NTPC , tata power and IEX .