Power Grid has been trading in a range for a while and it is showing sign of some weakness.
Major Trend - Down Trend
As there is a BoS of the previous market cycle.
Minor Trend - Sideway to range bound.
The market tends to retest the swing low in the coming month.
Stock has taken a strong resistance from 20 & 50 EMAs. Weekly close is below 100 EMA.
If the stock follow through the downside movement, entry for a sell trade is there with a 1:2 R:R ratio.
Entry :- 270
Stop Loss :- 279
Target :- 259
Last week the index too has supported the fall. If the index remains negative, full quantities can be punched around 270, in case of a retest half quantities can be sold around the retest and the price action near resistance levels while remaining quantity to be entered once the price action is in our favor.
Major Trend - Down Trend
As there is a BoS of the previous market cycle.
Minor Trend - Sideway to range bound.
The market tends to retest the swing low in the coming month.
Stock has taken a strong resistance from 20 & 50 EMAs. Weekly close is below 100 EMA.
If the stock follow through the downside movement, entry for a sell trade is there with a 1:2 R:R ratio.
Entry :- 270
Stop Loss :- 279
Target :- 259
Last week the index too has supported the fall. If the index remains negative, full quantities can be punched around 270, in case of a retest half quantities can be sold around the retest and the price action near resistance levels while remaining quantity to be entered once the price action is in our favor.
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관련 발행물
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.