11th Sep
Some of the power related stocks are looking very attractive post deep correction.
POWERGRID is one from that lot.
Looks like wave II is over and Wave III may have begun. At the worst may be a dash down to near 123 (Very Unlikely). But the future, both medium and long term, looks very rosy. The only negative is this being a Government owned company.
Would require review if trades below 120.
Here is Weekly chart with Medium term view. Of course long term targets are much higher.
Week of 9th June
Wave 3 overshoots the target and ended at 200% of Wave 1 showing extreme bullishness.
Now it has probably completed Wave 4 and Wave 5 is underway. The confirmation that it is in Wave will come on crossing 131.
Wave 5 minimum target is 136.5 but expect it to extend.
xxxxxxxxxxxxx
Minimum Wave 3 target.
Every dip till the target is an opportunity.
Some of the power related stocks are looking very attractive post deep correction.
POWERGRID is one from that lot.
Looks like wave II is over and Wave III may have begun. At the worst may be a dash down to near 123 (Very Unlikely). But the future, both medium and long term, looks very rosy. The only negative is this being a Government owned company.
Would require review if trades below 120.
Here is Weekly chart with Medium term view. Of course long term targets are much higher.
Week of 9th June
Wave 3 overshoots the target and ended at 200% of Wave 1 showing extreme bullishness.
Now it has probably completed Wave 4 and Wave 5 is underway. The confirmation that it is in Wave will come on crossing 131.
Wave 5 minimum target is 136.5 but expect it to extend.
xxxxxxxxxxxxx
Minimum Wave 3 target.
Every dip till the target is an opportunity.
Daily
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