⚡ Power Grid Corporation of India Ltd. – Symmetrical Triangle Apex Formation

Power Grid is currently coiling tightly within a symmetrical triangle pattern, nearing the apex — indicating an impending decisive move. This long consolidation phase following a sharp uptrend reflects a period of equilibrium between buyers and sellers, which often precedes a breakout. 🔹 Technical Overview Pattern: Symmetrical Triangle (tight price compression). Support Zone: ₹274–₹280 (trendline + horizontal confluence). Resistance Zone: ₹294–₹310 (upper trendline and swing barrier). RSI: Flat near 48–50, suggesting neutral momentum — waiting for direction. Volume: Low and steady, consistent with consolidation before expansion. Trend Bias: Uptrend still intact on the long-term chart, though momentum has cooled off. 🔹 Interpretation ✅ Price approaching triangle apex — breakout likely within the next few candles. ✅ Sustained move above ₹310 with volume could trigger continuation toward ₹335–₹350. ✅ Support holding above ₹274 maintains bullish structure. ⚠️ Breakdown below ₹270 may shift tone short-term bearish. 📈 View: Power Grid is in a technical compression phase; traders should watch for a breakout above ₹310 with confirmation through volume. A breakout could reinstate the prior uptrend, while failure to hold ₹274 may lead to a pullback toward ₹260. 📢 Disclaimer: For educational purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)