Topic Statement:
Powergrid attempted a V-shaped recovery but faced stiff resistance near 300, limiting its rebound and keeping the stock under short-term pressure.
Key Points:
1. The stock received strong support at the 38.2% Fibonacci retracement level, triggering an upward attempt
2. It is currently blocked by heavy resistance at the 23.6% retracement level at 296
3. Price remains below the 50-day EMA, making it moderately undervalued for short-term accumulation
4. The stock is following a downward trendline and faces resistance as it approaches it, with a breakout above this trendline likely to initiate a bullish move
Powergrid attempted a V-shaped recovery but faced stiff resistance near 300, limiting its rebound and keeping the stock under short-term pressure.
Key Points:
1. The stock received strong support at the 38.2% Fibonacci retracement level, triggering an upward attempt
2. It is currently blocked by heavy resistance at the 23.6% retracement level at 296
3. Price remains below the 50-day EMA, making it moderately undervalued for short-term accumulation
4. The stock is following a downward trendline and faces resistance as it approaches it, with a breakout above this trendline likely to initiate a bullish move
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.