The stock has started trading below 20-Day Moving Average and RSI is suggesting that momentum is likely on the downside, says Rudra Shares & Stock Brokers.
Moneycontrol Contributor
@moneycontrolcom
Rudra Shares & Stock Brokers
Power Grid has been trading in a range for the last few weeks and recently formed a bearish candlestick pattern at higher band of the range. It is showing a reversal pattern after testing resistance of 100-day Moving Average.
On the daily chart, the stock has started trading below 20-Day Moving Average and RSI is suggesting that momentum is likely on the downside and short term trade-able correction is expected in the counter.
First Published on Jan 14, 2019 11:19 am
