Powergrid will soon run out of steam... no power left!
Date: 19-Apr-2025
Powergrid closed at 309 on 18th Apr. Last minute buyers are hopeful that price may go up is 314 to 326 and even beyond.
However, a deep-dive into price action + volume indicates that the up move does'nt have enough volume hence we can assume that buyers are becoming lesser by the day.
In the past 320 to 330 has seen good selling coming in Powergrid. This pattern may repeat as profit booking may start by buyers who had entered this stock at 280 levels followed by new sellers arriving on the scene.
I would be looking for buying weakness / buyers getting trapped in 314 to 326 area and start selling/short selling for a target of 301 to 286
Happy Trading!
Powergrid closed at 309 on 18th Apr. Last minute buyers are hopeful that price may go up is 314 to 326 and even beyond.
However, a deep-dive into price action + volume indicates that the up move does'nt have enough volume hence we can assume that buyers are becoming lesser by the day.
In the past 320 to 330 has seen good selling coming in Powergrid. This pattern may repeat as profit booking may start by buyers who had entered this stock at 280 levels followed by new sellers arriving on the scene.
I would be looking for buying weakness / buyers getting trapped in 314 to 326 area and start selling/short selling for a target of 301 to 286
Happy Trading!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.