POWERGRID

Power Grid Corporation has successfully broken out from a rounding bottom pattern on the daily chart. The breakout is supported by strong volumes, confirming bullish intent. With the stock holding above the key breakout zone of Rs 310, the momentum suggests potential upside toward the next resistance levels at Rs 340 and Rs 350. On the downside, Rs 300 acts as a strong support, offering a favourable risk-reward entry zone on minor pullbacks. Momentum indicators reinforce the bullish view. The RSI is at 69, reflecting strong upward momentum while nearing overbought territory. Importantly, the price is trading well above the 20-day, 50-day, and 200-day EMAs, indicating a healthy and sustained uptrend. Any short-term dip is likely to be absorbed quickly due to ongoing buying interest.