POWER GRID CORP FUTURES
Short

#POWERGRID - completion of a Diagonal Triangle

75
The earlier posted cup and handle pattern on Powergrid has not materialised. The stock has moved sideways and the pattern now looks like a ending diagonal. On the long term charts the rally from Mar '20 can be counted as a completed 5 wave structure.
A break below the lower trendline of the diagonal pattern can accelerate a down move to 175 levels in short time.

Recent highs will be the stop loss for risk management

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.