The stock of Power Grid Corporation of India, which has been consolidating in the recent sessions, has seen a fresh breakout. It surpassed the resistance at ₹290 on Wednesday. Thus, the stock has formed a higher high and the price action on the daily chart resembles an inverted head and shoulder pattern. Thus, the probability of further rally from the current level is high. The stock has the potential to rally to ₹320. Nevertheless, when it reaches ₹300, it might see some consolidation before an eventual move towards ₹320. Buy the stock now at ₹293 and accumulate at ₹290. Place stop-loss at ₹284. When the stock hits ₹300, revise the stop-loss to ₹292. On a rally to ₹310, modify the stop-loss to ₹303. Exit at ₹320.
Video Credit: Businessline
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
Published on September 25, 2025