Monday, June 6, 2011

Bullish pattern in Powergrid

The chart for Powergrid shows a bullish pattern. We can see a bullish (inverted) head and shoulder pattern. The pattern was confirmed today when prices closed above the neckline, giving a target of 107 approx. The chart is given below. Trades must be taken in context - if the market is moving up the target has a strong chance of being met. If the market is sideways or down, prices may go sideways and not touch the target. Yet, there is a message in such patterns - the trend for this stock is up.


Rushabh Shastri said...

absolutely possible with stop loss Rs. 98 as per my view,,,purely technical

Gulshan said...

my view is different from yours.
Please correct me if I am wrong.
I think buying can be done above 105 for a target of 120, keeping in view the large consolidation pattern.



raman said...


What's ur target for upside???
Call: POSITIONAL long (1-2 YEAR)

I think, i can gain much through trading as this stock is trading near 100 frm quite long time.


raman said...

i can gain = one can gain

News That you can use