Power Grid Corporation of India Limited (POWERGRID) Stock - Complete Technical Analysis - Sep 03, 2024

Power Grid Corporation of India (POWERGRID) Stock Analysis: Key Support

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Power Grid Corporation of India Limited (POWERGRID) is currently trading at 335. The stock's technical indicators suggest a mixed outlook. The Relative Strength Index (RSI) is hovering around the mid-point, indicating neither overbought nor oversold conditions. The MACD is negative, hinting at bearish momentum, while the Awesome Oscillator also shows a bearish trend. On the other hand, the Average Directional Index (ADX) is relatively low, suggesting weak trend strength.

Support levels for POWERGRID are identified around 323 and 309, with significant resistance at 357 and 376. The stock is trading below its Exponential Moving Averages (EMAs) of 10, 20, and 30 days, signaling a short-term bearish trend, but above longer-term EMAs, indicating some strength in the medium to long term. The Ichimoku Base Line indicates potential resistance at 345.

Moving averages are showing mixed signals with the 50-day SMA slightly below the current price, suggesting immediate support. The Commodity Channel Index (CCI) and Williams Percent Range (WPR) both indicate oversold conditions, which could imply a potential reversal. The Hull Moving Average and Volume Weighted Moving Average also align with the support around the current price.

Overall, traders should monitor the key support and resistance levels closely and watch for any potential reversals given the current technical signals.