Power Grid Corporation of India Limited
Power Grid Corporation of India Limited looks to be a great long-term investment as it rises and achieves a record high.
Please take a moment to go over and comprehend Power Grid Corporation of India Limited's daily chart. According to the chart, Power Grid Corporation of India Limited is a wise investment in the 340–345 zone, has performed well thus far, and has a large amount of room to grow in the future.
Please refer to the Power Grid Corporation of India Limited's daily chart. The stock is currently trading above horizontal resistance and gaining strongly after breaking out of the 340–345 zone. At 355, Power Grid Corporation of India Limited is presently in great demand, as the image illustrates. The graph below illustrates the range of the anticipated growth phase, which is 480 to 500.
- Power Grid Corporation of India Limited has expanded and now has exceptional long-term investment potential after achieving a strong breakthrough in the 340 and 350.
- Based on the chart, Power Grid Corporation of India Limited is positioned favorably and has potential to grow, potentially reaching positions 480 and 500.
- Currently, the range of 340 to 345 is the ideal price to purchase this stock since the risk-reward ratio is suitable for cash transactions.
- The chart shows that the stock has broken out of an ascending triangle pattern, with a target price range of 480 to 500.
For your reference, kindly refer to the Power Grid Corporation of India Limited daily chart. The daily chart displays demand in the 340–345 price area, a breakout, and horizontal resistance. The stock rises as a result of this strong demand.
The stock hit a new all-time high today, indicating a fantastic buying opportunity at the current price, so please pay attention to the horizontal resistance and its breach. The stock has so far kept up the upward trend seen on the chart, hitting its goals at 480 and 500.
The rising triangle gave rise to Power Grid Corporation of India Limited; the pattern's most recent objectives are between 340 and 345. Technical analysis uses a chart pattern called the ascending triangle. At the swing low and high, respectively, price fluctuations produce a horizontal line and a rising trend line. A triangle is formed by the two lines.
Given the tremendous demand for the stock, investors might be looking for long-term buying opportunities in the 340–345 range. Additionally, they could benefit from any stock market downturns that drive prices up to the 480–500 level and exhibit a good risk–reward ratio. Seize the chance to invest in this business during any slump because it has a large potential for growth.
Using cash, investors might purchase the stock gradually, putting a 319 stop loss and aiming for prices between 480 and 500.
A swift rise and target hit might propel the stock or instrument to high volume and upside if there is minimal price volatility prior to a notable increase. Traders and investors usually search for a pattern known as a Volatility Contraction Pattern (VCP). Please visit our website and download the app from the Google Play Store for more details on VCP patterns. Additionally, we demonstrate how accurate the pattern identification is.
Resistance and support are shown on Power Grid Corporation of India Limited's daily chart. All levels are visible on the spot chart.
|
Power Grid Limited |
Support |
Resistance |
|
Level 1 |
340 |
480 |
|
Level 2 |
320 |
500 |
Company Profile: The Ministry of Power, Government of India, is the owner of Power Grid Corporation of India Limited, a central public sector enterprise. Its primary activity is the transmission of bulk power between India's several states. Its main office is in Gurugram. Approximately half of the power generated in India is sent via Power Grid's transmission network.
The Power Grid Corporation of India Limited was established on October 23, 1989 in accordance with the Companies Act, 1956, as a public limited company with an authorized share capital of Rs. 5,000 Crore (which was later increased to Rs. 10,000 Crore in the Financial Year (FY) 2007–08). The Government of India owned 51.34% of the company as of December 31, 2020.
Disclaimer: This expression is commonly used to convey that the content or material being seen is solely for educational reasons and should not be utilized for anything else. This example is just for educational purposes and should not be used commercially.